TCI Wealth Advisors Inc. Reduces Stake in Amgen Inc. (NASDAQ:AMGN)

TCI Wealth Advisors Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,876 shares of the medical research company’s stock after selling 155 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Amgen were worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Evergreen Wealth Management LLC raised its holdings in shares of Amgen by 1.7% in the 4th quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock valued at $1,409,000 after acquiring an additional 84 shares in the last quarter. Clearstead Trust LLC increased its position in shares of Amgen by 129.6% during the 4th quarter. Clearstead Trust LLC now owns 1,240 shares of the medical research company’s stock valued at $357,000 after purchasing an additional 700 shares during the last quarter. Connecticut Wealth Management LLC increased its position in shares of Amgen by 17.1% during the 4th quarter. Connecticut Wealth Management LLC now owns 2,064 shares of the medical research company’s stock valued at $594,000 after purchasing an additional 301 shares during the last quarter. Ellerson Group Inc. ADV increased its position in shares of Amgen by 0.7% during the 4th quarter. Ellerson Group Inc. ADV now owns 11,275 shares of the medical research company’s stock valued at $3,247,000 after purchasing an additional 80 shares during the last quarter. Finally, TCG Advisory Services LLC bought a new position in shares of Amgen during the 4th quarter valued at about $562,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 11.8 %

NASDAQ:AMGN traded up $32.90 during trading hours on Friday, reaching $311.29. 9,644,682 shares of the company traded hands, compared to its average volume of 2,279,398. The business’s 50-day moving average price is $274.95 and its two-hundred day moving average price is $281.46. The stock has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 earnings per share. Analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 128.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMGN. Morgan Stanley increased their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday. Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. BMO Capital Markets raised their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Finally, Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $230.00 to $300.00 in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

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.