Silverlake Wealth Management LLC Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

Silverlake Wealth Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,414 shares of the medical research company’s stock after selling 495 shares during the period. Silverlake Wealth Management LLC’s holdings in Amgen were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cadinha & Co. LLC raised its stake in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares in the last quarter. Lansing Street Advisors raised its stake in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares in the last quarter. Unionview LLC raised its stake in shares of Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after buying an additional 32 shares in the last quarter. Traveka Wealth LLC raised its stake in shares of Amgen by 4.3% in the 3rd quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after buying an additional 33 shares in the last quarter. Finally, AM Investment Strategies LLC raised its stake in shares of Amgen by 0.4% in the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after buying an additional 33 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Wolfe Research assumed coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $314.00.

Amgen Stock Performance

Shares of AMGN stock opened at $289.02 on Wednesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market capitalization of $155.36 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The company’s 50 day moving average price is $270.95 and its two-hundred day moving average price is $303.82. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. On average, analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Amgen Company 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.