Western Wealth Management LLC Sells 47 Shares of Amgen Inc. (NASDAQ:AMGN)

Western Wealth Management LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,153 shares of the medical research company’s stock after selling 47 shares during the period. Western Wealth Management LLC’s holdings in Amgen were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AMGN. Roundview Capital LLC grew its holdings in Amgen by 1.3% during the first quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after purchasing an additional 107 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Amgen by 39.2% in the first quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after buying an additional 647 shares during the period. Ergoteles LLC bought a new stake in shares of Amgen in the first quarter worth $219,000. First Western Trust Bank bought a new stake in shares of Amgen in the first quarter worth $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after purchasing an additional 513 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMGN. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. UBS Group dropped their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

AMGN traded up $2.69 during midday trading on Friday, hitting $265.44. 448,628 shares of the company traded hands, compared to its average volume of 2,819,633. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a market capitalization of $142.25 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58. The company’s 50-day moving average is $277.34 and its 200 day moving average is $281.24. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the firm posted $4.09 EPS. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

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.