Regent Peak Wealth Advisors LLC Sells 5,525 Shares of Amgen Inc. (NASDAQ:AMGN)

Regent Peak Wealth Advisors LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 66.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,790 shares of the medical research company’s stock after selling 5,525 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Amgen were worth $727,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the third quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter worth about $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the 3rd quarter worth about $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter valued at about $30,000. Finally, Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Wolfe Research started coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Leerink Partners cut their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average price target of $318.83.

Amgen Price Performance

NASDAQ:AMGN traded up $3.97 during trading hours on Tuesday, hitting $262.56. The stock had a trading volume of 1,040,952 shares, compared to its average volume of 2,755,155. The firm has a market capitalization of $141.13 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 2.91 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50 day simple moving average of $283.46 and a two-hundred day simple moving average of $310.11. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

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.