FFT Wealth Management LLC Has $365,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

FFT Wealth Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.6% in the fourth quarter, Holdings Channel reports. The firm owned 1,402 shares of the medical research company’s stock after buying an additional 49 shares during the quarter. FFT Wealth Management LLC’s holdings in Amgen were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB raised its position in shares of Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock valued at $38,825,000 after acquiring an additional 17,387 shares during the period. Swedbank AB increased its stake in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after purchasing an additional 5,751 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Amgen by 0.6% in the third quarter. Nisa Investment Advisors LLC now owns 169,843 shares of the medical research company’s stock worth $54,725,000 after purchasing an additional 1,037 shares during the period. Autumn Glory Partners LLC boosted its position in shares of Amgen by 23.5% during the third quarter. Autumn Glory Partners LLC now owns 798 shares of the medical research company’s stock worth $268,000 after purchasing an additional 152 shares in the last quarter. Finally, Orrstown Financial Services Inc. grew its holdings in shares of Amgen by 96.3% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,019 shares of the medical research company’s stock valued at $973,000 after buying an additional 1,481 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.9 %

Amgen stock opened at $315.63 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. The company’s 50-day moving average is $278.13 and its 200-day moving average is $300.16. The firm has a market capitalization of $169.56 billion, a PE ratio of 41.81, a P/E/G ratio of 2.63 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.02%. Amgen’s dividend payout ratio (DPR) is currently 126.09%.

Insiders Place Their Bets

In other news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % 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 ninety days. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Bank of America increased their price objective on shares of Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a research report on Thursday, February 6th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $314.09.

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.