Processus Wealth & Capital Management LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Processus Wealth & Capital Management LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,227 shares of the medical research company’s stock after selling 696 shares during the period. Amgen accounts for approximately 1.7% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Processus Wealth & Capital Management LLC’s holdings in Amgen were worth $2,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter valued at about $25,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Amgen during the 3rd quarter valued at about $29,000. Heck Capital Advisors LLC purchased a new stake in Amgen during the fourth quarter valued at $36,000. Finally, PrairieView Partners LLC raised its position in Amgen by 118.3% in the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after acquiring an additional 97 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. UBS Group reiterated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $314.09.

Insider Buying and Selling

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

Amgen Trading Up 2.2 %

Shares of Amgen stock opened at $309.72 on Tuesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm’s 50-day moving average price is $277.14 and its 200 day moving average price is $300.20. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $166.38 billion, a PE ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.07%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio 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.