HFR Wealth Management LLC Acquires 76 Shares of Amgen Inc. (NASDAQ:AMGN)

HFR Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,452 shares of the medical research company’s stock after purchasing an additional 76 shares during the quarter. Amgen comprises about 2.4% of HFR Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. HFR Wealth Management LLC’s holdings in Amgen were worth $9,761,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gryphon Financial Partners LLC raised its holdings in shares of Amgen by 5.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,475 shares of the medical research company’s stock valued at $1,166,000 after purchasing an additional 245 shares in the last quarter. Silver Coast Investments LLC raised its holdings in shares of Amgen by 5.4% during the 4th quarter. Silver Coast Investments LLC now owns 935 shares of the medical research company’s stock valued at $244,000 after purchasing an additional 48 shares in the last quarter. Auxano Advisors LLC raised its holdings in Amgen by 2.7% in the 4th quarter. Auxano Advisors LLC now owns 2,578 shares of the medical research company’s stock worth $672,000 after acquiring an additional 68 shares during the period. Woodley Farra Manion Portfolio Management Inc. raised its holdings in Amgen by 2.7% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 14,126 shares of the medical research company’s stock worth $3,682,000 after acquiring an additional 371 shares during the period. Finally, Fidelis Capital Partners LLC raised its holdings in Amgen by 3.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 4,609 shares of the medical research company’s stock worth $1,331,000 after acquiring an additional 160 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 in the last ninety days. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $314.09.

Amgen Price Performance

Shares of Amgen stock opened at $310.78 on Tuesday. 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 firm’s 50-day simple moving average is $281.80 and its 200-day simple moving average is $299.73. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market cap of $166.95 billion, a P/E ratio of 41.16, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

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.