Tower Wealth Partners Inc. Purchases 63 Shares of Amgen Inc. (NASDAQ:AMGN)

Tower Wealth Partners Inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,416 shares of the medical research company’s stock after buying an additional 63 shares during the period. Tower Wealth Partners Inc.’s holdings in Amgen were worth $369,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Unionview LLC grew its holdings in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after buying an additional 32 shares in the last quarter. Semus Wealth Partners LLC boosted its position in shares of Amgen by 2.3% in the third quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock valued at $493,000 after acquiring an additional 35 shares during the period. Connable Office Inc. grew its stake in shares of Amgen by 0.5% in the third quarter. Connable Office Inc. now owns 6,972 shares of the medical research company’s stock valued at $2,246,000 after acquiring an additional 37 shares in the last quarter. Blossom Wealth Management increased its position in Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after acquiring an additional 37 shares during the period. Finally, Zullo Investment Group Inc. raised its stake in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Amgen stock opened at $324.86 on Monday. The company has a market capitalization of $174.52 billion, a PE ratio of 43.03, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a 50-day moving average price of $286.14 and a two-hundred day moving average price of $299.48. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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%. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Insider Buying and Selling

In other news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the transaction, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last 90 days. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on AMGN shares. Piper Sandler raised their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $314.95.

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.