ProVise Management Group LLC Has $4.23 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

ProVise Management Group LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,220 shares of the medical research company’s stock after selling 2,501 shares during the quarter. ProVise Management Group LLC’s holdings in Amgen were worth $4,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the fourth quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Redburn Partners reduced their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Finally, Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $314.04.

Amgen Trading Up 0.5 %

Shares of Amgen stock opened at $318.65 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company’s fifty day moving average price is $294.12 and its two-hundred day moving average price is $298.91. The firm has a market capitalization of $171.18 billion, a PE ratio of 42.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 2.99%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

About Amgen

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.