Burling Wealth Partners LLC Acquires Shares of 929 Amgen Inc. (NASDAQ:AMGN)

Burling Wealth Partners LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 929 shares of the medical research company's stock, valued at approximately $242,000.

Other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at approximately $34,000. Atala Financial Inc bought a new stake in Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Bank of America increased their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Citigroup reiterated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Piper Sandler Companies restated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $310.57.

Amgen Stock Performance

Shares of Amgen stock traded down $0.50 during trading on Wednesday, reaching $288.06. The company's stock had a trading volume of 646,394 shares, compared to its average volume of 2,778,267. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business's 50-day moving average price is $301.10 and its 200-day moving average price is $292.08. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market cap of $154.88 billion, a PE ratio of 38.15, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is currently 126.09%.

Insider Buying and Selling

In other Amgen news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction dated 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 in the company, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock valued at $20,644,335 over the last quarter. 0.69% of the stock is owned by company insiders.

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.