Sowell Financial Services LLC Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sowell Financial Services LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 8.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,473 shares of the medical research company’s stock after selling 1,036 shares during the period. Sowell Financial Services LLC’s holdings in Amgen were worth $2,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter worth $25,000. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the 3rd quarter worth about $29,000. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two equities 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 given a strong buy rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.95.

Amgen Price Performance

AMGN stock opened at $324.86 on Monday. The business has a 50 day moving average price of $286.14 and a 200 day moving average price of $299.48. The stock has a market cap of $174.52 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Insider Buying and Selling

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the sale, the executive vice president now owns 28,987 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the business’s 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 approximately $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. 0.69% of the stock is owned by insiders.

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.