Kingswood Wealth Advisors LLC Sells 4,499 Shares of Amgen Inc. (NASDAQ:AMGN)

Kingswood Wealth Advisors LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 56.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,445 shares of the medical research company’s stock after selling 4,499 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Amgen were worth $898,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cadinha & Co. LLC raised its stake in Amgen by 0.6% in the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares during the period. Lansing Street Advisors raised its stake in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the period. Unionview LLC raised its stake in Amgen by 3.8% in the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after buying an additional 32 shares during the period. Traveka Wealth LLC raised its stake in Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after buying an additional 33 shares during the period. Finally, AM Investment Strategies LLC raised its stake in Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $280.30 on Wednesday. The company has a market capitalization of $150.67 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The business has a 50-day simple moving average of $271.47 and a two-hundred day simple moving average of $305.51.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMGN shares. Bank of America reiterated an “underperform” rating and set a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $314.00.

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.