Western Wealth Management LLC Sells 3,380 Shares of Amgen Inc. (NASDAQ:AMGN)

Western Wealth Management LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,473 shares of the medical research company's stock after selling 3,380 shares during the quarter. Western Wealth Management LLC's holdings in Amgen were worth $1,427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Hudson Value Partners LLC raised its position in Amgen by 7.2% in the fourth quarter. Hudson Value Partners LLC now owns 15,856 shares of the medical research company's stock valued at $4,133,000 after purchasing an additional 1,071 shares during the period. Strait & Sound Wealth Management LLC increased its position in shares of Amgen by 6.2% in the 4th quarter. Strait & Sound Wealth Management LLC now owns 4,530 shares of the medical research company's stock valued at $1,181,000 after purchasing an additional 263 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Amgen by 43.9% in the fourth quarter. Sunbelt Securities Inc. now owns 6,723 shares of the medical research company's stock valued at $1,743,000 after buying an additional 2,051 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Amgen during the 4th quarter worth about $47,000. Finally, Vise Technologies Inc. boosted its holdings in shares of Amgen by 33.7% in the 4th quarter. Vise Technologies Inc. now owns 5,582 shares of the medical research company's stock valued at $1,455,000 after buying an additional 1,406 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.3%

NASDAQ AMGN traded up $0.94 during trading on Wednesday, hitting $280.39. 955,008 shares of the company traded hands, compared to its average volume of 2,789,497. The company has a market capitalization of $150.77 billion, a P/E ratio of 37.14, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day simple moving average of $285.23 and a 200 day simple moving average of $285.81. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.96 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is 86.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price on the stock. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Royal Bank of Canada decreased their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim assumed coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $309.22.

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.