Amgen Inc. (NASDAQ:AMGN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,617 shares of the medical research company's stock after selling 4,194 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Amgen were worth $7,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beck Mack & Oliver LLC raised its position in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the period. Blossom Wealth Management increased its position in shares of Amgen by 3.5% during the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after purchasing an additional 37 shares during the last quarter. Zullo Investment Group Inc. raised its holdings in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock valued at $356,000 after buying an additional 37 shares during the period. Finally, Trillium Asset Management LLC lifted its position in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after buying an additional 37 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMGN. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. UBS Group reaffirmed a "neutral" rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Finally, Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $309.22.

Amgen Stock Down 0.4%

NASDAQ AMGN traded down $1.05 during trading on Wednesday, hitting $278.40. The company's stock had a trading volume of 3,861,129 shares, compared to its average volume of 2,801,332. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $149.70 billion, a PE ratio of 36.87, a P/E/G ratio of 2.63 and a beta of 0.51. 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 business's 50 day simple moving average is $285.23 and its 200-day simple moving average is $285.81.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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 given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.42%. Amgen's dividend payout ratio is currently 86.86%.

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.