Crown Wealth Group LLC Sells 38 Shares of Amgen Inc. (NASDAQ:AMGN)

Crown Wealth Group LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804 shares of the medical research company’s stock after selling 38 shares during the period. Crown Wealth Group LLC’s holdings in Amgen were worth $210,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lansing Street Advisors grew its holdings in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the period. Unionview LLC grew its stake in shares of Amgen by 3.8% during the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. AM Investment Strategies LLC increased its holdings in shares of Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after purchasing an additional 33 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Amgen by 0.6% in the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after purchasing an additional 33 shares during the period. Finally, Beacon Financial Advisory LLC boosted its holdings in Amgen by 4.6% during the third quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock worth $248,000 after buying an additional 34 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction 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 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 worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on AMGN shares. Bank of America increased their target price on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $314.09.

Amgen Price Performance

Shares of Amgen stock opened at $306.38 on Thursday. The stock has a market capitalization of $164.59 billion, a P/E ratio of 40.58, a PEG ratio of 2.63 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business’s fifty day moving average price is $279.08 and its 200 day moving average price is $300.20. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 126.09%.

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.