Fiduciary Wealth Partners LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Fiduciary Wealth Partners LLC acquired a new stake of 899 shares in Amgen Inc., valued at approximately $280,000, making it the company's 29th largest position in its portfolio.
• Recent trading activity includes Rachna Khosla, SVP of Amgen, selling 1,500 shares for a total of $434,520, marking a 15.52% decrease in her ownership.
• Amgen has announced a quarterly dividend of $2.38 payable on September 12th, resulting in an annual yield of 3.2% based on the current payout ratio of 86.86%.

Fiduciary Wealth Partners LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 899 shares of the medical research company's stock, valued at approximately $280,000. Amgen accounts for approximately 0.2% of Fiduciary Wealth Partners LLC's portfolio, making the stock its 29th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Amgen in the fourth quarter worth $26,000. First Pacific Financial grew its stake in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% in the fourth 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 in the last quarter. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC lifted its holdings in Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $5.06 during midday trading on Monday, reaching $301.94. The company had a trading volume of 2,315,958 shares, compared to its average volume of 1,828,628. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The company's 50 day moving average price is $292.04 and its 200 day moving average price is $292.19. The stock has a market cap of $162.36 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.57 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 86.86%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Royal Bank Of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $307.27.

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.