Legacy Capital Wealth Partners LLC Sells 533 Shares of Amgen Inc. (NASDAQ:AMGN)

Legacy Capital Wealth Partners LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 14.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,042 shares of the medical research company’s stock after selling 533 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Amgen were worth $793,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Congress Asset Management Co. lifted its position in shares of Amgen by 16.6% in the fourth quarter. Congress Asset Management Co. now owns 62,436 shares of the medical research company’s stock valued at $16,273,000 after buying an additional 8,895 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Amgen in the fourth quarter valued at about $572,000. CapWealth Advisors LLC raised its position in shares of Amgen by 1.4% in the fourth quarter. CapWealth Advisors LLC now owns 29,837 shares of the medical research company’s stock valued at $7,777,000 after purchasing an additional 409 shares during the period. BXM Wealth LLC bought a new position in shares of Amgen in the fourth quarter valued at about $314,000. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Amgen by 1.3% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 18,521 shares of the medical research company’s stock valued at $4,828,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $291.16 on Friday. The company’s 50-day moving average price is $274.12 and its two-hundred day moving average price is $301.85. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market cap of $156.51 billion, a P/E ratio of 38.56, a P/E/G ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 anticipate that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 119.21%.

Insider Activity

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,405 shares of company stock worth $10,410,596. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AMGN shares. TD Cowen increased their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Citigroup lowered their price target on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.09.

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.