Evercore Wealth Management LLC Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

Evercore Wealth Management LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,445 shares of the medical research company’s stock after selling 478 shares during the period. Evercore Wealth Management LLC’s holdings in Amgen were worth $5,068,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Beck Mack & Oliver LLC raised its holdings in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the period. Blossom Wealth Management increased its position in shares of Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after buying an additional 37 shares in the last quarter. Zullo Investment Group Inc. raised its stake in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the period. Trillium Asset Management LLC lifted its position in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its stake in Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of research analyst reports. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on Amgen from $328.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average target price of $310.57.

Insiders Place Their Bets

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction on Friday, February 7th. The stock was 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 in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 over the last 90 days. 0.69% of the stock is owned by company insiders.

Amgen Stock Up 1.7 %

Shares of NASDAQ AMGN opened at $278.40 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $149.68 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a 50 day simple moving average of $302.25 and a 200-day simple moving average of $293.45. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last posted 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 return on equity of 176.32% and a net margin of 12.24%. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.42%. 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.