Forvis Mazars Wealth Advisors LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Forvis Mazars Wealth Advisors LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,337 shares of the medical research company’s stock after selling 49 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Amgen were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AMGN. AMF Tjanstepension AB increased its stake in Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after buying an additional 17,387 shares in the last quarter. Swedbank AB grew its position in shares of Amgen by 1.1% during the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after purchasing an additional 5,751 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Amgen by 5.8% during the third quarter. Arkadios Wealth Advisors now owns 3,929 shares of the medical research company’s stock valued at $1,266,000 after purchasing an additional 215 shares in the last quarter. First American Bank grew its position in shares of Amgen by 24.1% during the third quarter. First American Bank now owns 12,965 shares of the medical research company’s stock valued at $4,177,000 after purchasing an additional 2,518 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC grew its position in shares of Amgen by 5.5% during the third quarter. Colton Groome Financial Advisors LLC now owns 6,744 shares of the medical research company’s stock valued at $2,173,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMGN. Bank of America raised their price objective on Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Up 2.2 %

Shares of NASDAQ AMGN opened at $309.72 on Tuesday. The firm has a 50-day simple moving average of $277.14 and a two-hundred day simple moving average of $300.20. 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 company has a market cap of $166.38 billion, a P/E ratio of 41.02, a PEG ratio of 2.58 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 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%. Research analysts anticipate that Amgen Inc. will post 20.6 earnings per share for the current 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 126.09%.

Insider Activity

In related news, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now directly owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This trade represents a 12.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,341 shares of company stock valued at $20,644,335. 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.