Midland Wealth Advisors LLC Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Midland Wealth Advisors LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,458 shares of the medical research company’s stock after selling 284 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Amgen were worth $641,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter worth approximately $25,000. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the fourth quarter worth $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the third quarter valued at $29,000. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler lifted their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $314.95.

Amgen Price Performance

Shares of AMGN opened at $324.86 on Monday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market cap of $174.52 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The firm has a fifty day moving average price of $286.14 and a 200 day moving average price of $299.48.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.93%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Activity

In other news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 0.69% of the stock is currently owned by company insiders.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.