Confluence Wealth Services Inc. Has $373,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Confluence Wealth Services Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,312 shares of the medical research company’s stock after selling 245 shares during the period. Confluence Wealth Services Inc.’s holdings in Amgen were worth $373,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMGN. American Financial Advisors LLC raised its stake in Amgen by 25.3% during the 1st quarter. American Financial Advisors LLC now owns 1,505 shares of the medical research company’s stock valued at $428,000 after purchasing an additional 304 shares during the period. Legacy CG LLC lifted its stake in Amgen by 0.4% in the 1st quarter. Legacy CG LLC now owns 22,234 shares of the medical research company’s stock worth $6,322,000 after acquiring an additional 82 shares in the last quarter. PFG Investments LLC boosted its position in Amgen by 222.3% during the 1st quarter. PFG Investments LLC now owns 6,497 shares of the medical research company’s stock worth $1,847,000 after acquiring an additional 4,481 shares during the period. Altfest L J & Co. Inc. grew its stake in Amgen by 26.4% during the 1st quarter. Altfest L J & Co. Inc. now owns 4,822 shares of the medical research company’s stock valued at $1,371,000 after acquiring an additional 1,006 shares in the last quarter. Finally, MBL Wealth LLC acquired a new position in shares of Amgen in the 1st quarter valued at about $341,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Raymond James initiated coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Finally, Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

Shares of Amgen stock traded down $2.44 during trading on Tuesday, reaching $273.94. The company’s stock had a trading volume of 2,476,256 shares, compared to its average volume of 2,816,730. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a market cap of $146.94 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The business’s fifty day moving average price is $274.76 and its 200-day moving average price is $281.37.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same period in the previous year, the business posted $4.09 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

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.