Connecticut Wealth Management LLC Has $594,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Connecticut Wealth Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,064 shares of the medical research company’s stock after acquiring an additional 301 shares during the period. Connecticut Wealth Management LLC’s holdings in Amgen were worth $594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares during the last quarter. Northern Trust Corp raised its holdings in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after acquiring an additional 255,463 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after acquiring an additional 518,689 shares during the period. Invesco Ltd. grew its holdings in shares of Amgen by 15.9% during the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock worth $902,055,000 after purchasing an additional 459,340 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after purchasing an additional 490,539 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

Amgen Trading Up 11.8 %

AMGN stock traded up $32.90 during trading on Friday, hitting $311.29. The company had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. The firm has a 50-day moving average price of $274.95 and a 200-day moving average price of $281.46. Amgen Inc. has a 12 month low of $211.71 and a 12 month 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 stock has a market cap of $166.97 billion, a price-to-earnings ratio of 44.47, a PEG ratio of 3.01 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. BMO Capital Markets upped their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. Finally, Royal Bank of Canada dropped their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a report on Friday. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.05.

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.