Institute for Wealth Management LLC. Sells 131 Shares of Amgen Inc. (NASDAQ:AMGN)

Institute for Wealth Management LLC. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,594 shares of the medical research company’s stock after selling 131 shares during the period. Institute for Wealth Management LLC.’s holdings in Amgen were worth $3,627,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zhang Financial LLC boosted its stake in shares of Amgen by 4.8% during the 4th quarter. Zhang Financial LLC now owns 13,480 shares of the medical research company’s stock worth $3,883,000 after purchasing an additional 617 shares during the period. Beaumont Financial Advisors LLC raised its holdings in shares of Amgen by 1.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 4,757 shares of the medical research company’s stock valued at $1,370,000 after purchasing an additional 48 shares in the last quarter. Davidson Trust Co. raised its holdings in shares of Amgen by 11.3% in the 4th quarter. Davidson Trust Co. now owns 1,928 shares of the medical research company’s stock valued at $555,000 after purchasing an additional 195 shares in the last quarter. HTLF Bank bought a new stake in shares of Amgen in the 4th quarter valued at about $8,771,000. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Amgen by 26.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,569 shares of the medical research company’s stock valued at $1,028,000 after purchasing an additional 753 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Raymond James initiated coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

Shares of AMGN stock traded up $5.96 during trading hours on Friday, hitting $268.71. The company’s stock had a trading volume of 1,715,805 shares, compared to its average volume of 2,834,902. The company has a 50 day moving average of $277.34 and a 200 day moving average of $281.24. The stock has a market cap of $144.01 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.09 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Amgen 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.