Western Wealth Management LLC Has $1.43 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Western Wealth Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 38.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC increased its stake in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares during the last quarter. ICICI Prudential Asset Management Co Ltd increased its stake in Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after acquiring an additional 16,985 shares during the last quarter. Fisher Asset Management LLC increased its stake in Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after acquiring an additional 292,137 shares during the last quarter. Aire Advisors LLC increased its stake in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new stake in Amgen during the fourth quarter worth about $3,531,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ:AMGN traded up $7.80 during trading hours on Tuesday, reaching $279.46. 2,916,834 shares of the stock were exchanged, compared to its average volume of 3,124,713. 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 firm has a 50 day simple moving average of $285.94 and a 200-day simple moving average of $285.86. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market capitalization of $150.27 billion, a P/E ratio of 37.01, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 86.86%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price for the company. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Finally, Bank of America upped their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $309.22.

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.