IMA Wealth Inc. Sells 5,538 Shares of Amgen Inc. (NASDAQ:AMGN)

IMA Wealth Inc. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 48.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,938 shares of the medical research company’s stock after selling 5,538 shares during the quarter. IMA Wealth Inc.’s holdings in Amgen were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Gryphon Financial Partners LLC raised its holdings in Amgen by 4.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,040 shares of the medical research company’s stock worth $234,000 after acquiring an additional 44 shares during the period. Formidable Asset Management LLC raised its holdings in Amgen by 1.9% in the 4th quarter. Formidable Asset Management LLC now owns 2,376 shares of the medical research company’s stock worth $541,000 after acquiring an additional 45 shares during the period. Sierra Capital LLC raised its holdings in Amgen by 7.1% in the 4th quarter. Sierra Capital LLC now owns 678 shares of the medical research company’s stock worth $153,000 after acquiring an additional 45 shares during the period. Covenant Asset Management LLC raised its holdings in Amgen by 1.0% in the 4th quarter. Covenant Asset Management LLC now owns 4,723 shares of the medical research company’s stock worth $1,063,000 after acquiring an additional 47 shares during the period. Finally, Old North State Trust LLC raised its holdings in Amgen by 3.4% in the 4th quarter. Old North State Trust LLC now owns 1,492 shares of the medical research company’s stock worth $336,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 79.01% of the company’s stock.

Several brokerages have recently weighed in on AMGN. Piper Sandler lifted their target price on shares of Amgen from $255.00 to $260.00 in a research report on Thursday, April 28th. Morgan Stanley reduced their price target on shares of Amgen from $238.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 16th. Wells Fargo & Company boosted their target price on shares of Amgen from $210.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 9th. Finally, SVB Leerink assumed coverage on shares of Amgen in a research note on Monday. They issued a “market perform” rating and a $256.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $243.07.

In other news, EVP Jonathan P. Graham sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total value of $3,264,435.00. Following the completion of the transaction, the executive vice president now owns 37,333 shares in the company, valued at $9,027,492.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 600 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 5,501 shares of the company’s stock, valued at approximately $1,375,250. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

NASDAQ:AMGN traded up $0.10 during trading hours on Thursday, hitting $253.11. The stock had a trading volume of 114,803 shares, compared to its average volume of 3,156,148. Amgen Inc. has a one year low of $198.64 and a one year high of $258.45. The company has a debt-to-equity ratio of 39.31, a quick ratio of 1.09 and a current ratio of 1.44. The company has a market cap of $135.21 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.71 and a beta of 0.58. The business’s 50 day moving average is $244.34 and its 200-day moving average is $229.38.

Amgen (NASDAQ:AMGNGet Rating) last issued its earnings results on Wednesday, April 27th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.22 by $0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The firm had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter in the prior year, the firm earned $3.70 earnings per share. On average, sell-side analysts anticipate that Amgen Inc. will post 17.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 17th will be paid a $1.94 dividend. This represents a $7.76 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, May 16th. Amgen’s payout ratio is presently 76.38%.

About Amgen (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.