Morey & Quinn Wealth Partners LLC Invests $375,000 in Amgen Inc. (NASDAQ:AMGN)

Morey & Quinn Wealth Partners LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,437 shares of the medical research company’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Talbot Financial LLC boosted its holdings in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Asset Advisors Investment Management LLC boosted its holdings in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’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 sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. 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 in the last ninety days. Insiders own 0.69% of the company’s stock.

Amgen Trading Down 2.4 %

Shares of AMGN opened at $306.86 on Wednesday. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market cap of $164.85 billion, a PE ratio of 40.64, a P/E/G ratio of 2.63 and a beta of 0.53. The stock’s 50-day moving average is $298.92 and its two-hundred day moving average is $298.41.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. Amgen’s dividend payout ratio is currently 126.09%.

Analyst Ratings Changes

A number of brokerages have weighed in on AMGN. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Leerink Partners dropped their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $314.04.

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.