Leo Wealth LLC Sells 1,712 Shares of Amgen Inc. (NASDAQ:AMGN)

Leo Wealth LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 38.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,760 shares of the medical research company’s stock after selling 1,712 shares during the quarter. Leo Wealth LLC’s holdings in Amgen were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter worth $36,000. Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter worth $56,000. Finally, Kennebec Savings Bank bought a new position in shares of Amgen during the third quarter valued at $57,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 1.4 %

NASDAQ:AMGN opened at $293.54 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business has a fifty day moving average price of $272.04 and a 200-day moving average price of $303.51. The firm has a market capitalization of $157.79 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. 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 issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Sell-side analysts forecast that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.24%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was 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 $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler cut their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. 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.com, the stock presently has an average rating of “Hold” and an average price target of $313.23.

About Amgen

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.