Congress Wealth Management LLC DE Has $19.02 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Congress Wealth Management LLC DE boosted its position in Amgen Inc. (NASDAQ:AMGN) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,966 shares of the medical research company’s stock after buying an additional 5,119 shares during the period. Congress Wealth Management LLC DE’s holdings in Amgen were worth $19,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the third quarter valued at about $29,000. Synergy Investment Management LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $34,000. Atala Financial Inc acquired a new position in shares of Amgen during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $316.04 on Monday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s fifty day moving average price is $297.24 and its 200-day moving average price is $298.57. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $169.78 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Citigroup reissued a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $314.04.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 over the last quarter. Insiders own 0.69% of the company’s stock.

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.