EverSource Wealth Advisors LLC Sells 408 Shares of Amgen Inc. (NASDAQ:AMGN)

EverSource Wealth Advisors LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,063 shares of the medical research company’s stock after selling 408 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Amgen were worth $7,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter worth $29,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter worth $25,000. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen during the fourth quarter worth $36,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial cut their price target 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. Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $314.04.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 8,711 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. This represents a 12.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Down 2.6 %

Shares of AMGN stock opened at $318.89 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. 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 company has a 50-day simple moving average of $288.66 and a two-hundred day simple moving average of $299.43. The company has a market capitalization of $171.31 billion, a price-to-earnings ratio of 42.24, a PEG ratio of 2.63 and a beta of 0.53.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Amgen Profile

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.