FourThought Financial Partners LLC Sells 1,081 Shares of Amgen Inc. (NASDAQ:AMGN)

FourThought Financial Partners LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,793 shares of the medical research company’s stock after selling 1,081 shares during the period. Amgen makes up approximately 1.2% of FourThought Financial Partners LLC’s portfolio, making the stock its 26th biggest position. FourThought Financial Partners LLC’s holdings in Amgen were worth $9,157,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new stake in shares of Amgen during the third quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen in the 4th quarter worth $29,000. OFI Invest Asset Management acquired a new stake in Amgen in the 3rd quarter valued at $26,000. Planned Solutions Inc. bought a new stake in Amgen during the 4th quarter valued at $30,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter worth $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN traded up $32.90 during trading hours on Friday, hitting $311.29. The stock had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The stock has a market cap of $166.97 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company’s fifty day simple moving average is $274.95 and its 200 day simple moving average is $281.50.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. Equities analysts anticipate that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. BMO Capital Markets raised their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer reiterated an “outperform” rating and set a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Finally, TD Cowen lowered their price target on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $305.05.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.