Laird Norton Wetherby Wealth Management LLC Sells 1,268 Shares of Amgen Inc. (NASDAQ:AMGN)

Laird Norton Wetherby Wealth Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,430 shares of the medical research company's stock after selling 1,268 shares during the period. Laird Norton Wetherby Wealth Management LLC's holdings in Amgen were worth $4,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Talbot Financial LLC grew its position in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock worth $11,153,000 after buying an additional 2,274 shares in the last quarter. Ascent Wealth Partners LLC increased its holdings in shares of 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 buying an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares during the last quarter. PFW Advisors LLC acquired a new stake in Amgen in the 4th quarter valued at about $1,105,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Amgen by 285.4% in the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after purchasing an additional 292,137 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMGN shares. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 10th. Royal Bank of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price on the stock. Finally, Piper Sandler increased their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $310.23.

Amgen Stock Performance

Shares of Amgen stock traded up $9.41 during trading on Thursday, reaching $271.69. The company's stock had a trading volume of 3,994,633 shares, compared to its average volume of 2,790,966. 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 $293.04 and its 200-day moving average price is $288.89. 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 $146.09 billion, a PE ratio of 35.99, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is currently 86.86%.

Insider Buying and Selling

In other Amgen news, EVP David M. Reese sold 8,711 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

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.