TCV Trust & Wealth Management Inc. Purchases 468 Shares of Amgen Inc. (NASDAQ:AMGN)

TCV Trust & Wealth Management Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,270 shares of the medical research company’s stock after purchasing an additional 468 shares during the period. Amgen makes up about 1.4% of TCV Trust & Wealth Management Inc.’s holdings, making the stock its 24th biggest holding. TCV Trust & Wealth Management Inc.’s holdings in Amgen were worth $14,927,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in Amgen during the third quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in Amgen during the 4th quarter valued at about $36,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Amgen in the 4th quarter worth approximately $52,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter worth $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMGN. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Wells Fargo & Company reduced their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $314.09.

Amgen Trading Up 0.6 %

NASDAQ AMGN opened at $296.66 on Wednesday. The stock has a market cap of $159.46 billion, a PE ratio of 39.29, a PEG ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company’s 50-day moving average price is $272.59 and its 200-day moving average price is $302.50. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its 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 net margin of 12.24% and a return on equity of 176.32%. Equities research analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.21%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 119.21%.

Insider Transactions at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

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.