Twin City Private Wealth LLC Sells 234 Shares of Amgen Inc. (NASDAQ:AMGN)

Twin City Private Wealth LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,522 shares of the medical research company’s stock after selling 234 shares during the quarter. Twin City Private Wealth LLC’s holdings in Amgen were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter valued at $29,000. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter valued at $25,000. Synergy Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at $34,000. Atala Financial Inc acquired a new position in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter valued at $36,000. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’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 completion of the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, 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. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMGN shares. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler raised their target price on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Up 0.3 %

Shares of AMGN stock opened at $316.04 on Monday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $169.78 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The firm has a 50-day moving average price of $297.24 and a 200 day moving average price of $298.57. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend 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.