Laird Norton Wetherby Wealth Management LLC Has $4.28 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Laird Norton Wetherby Wealth Management LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 7.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,430 shares of the medical research company’s stock after selling 1,268 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Amgen were worth $4,282,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $1,541,991,000. Capital International Investors lifted its position in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Amgen during the fourth quarter worth approximately $401,913,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Royal Bank of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group reiterated a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $310.23.

Amgen Stock Performance

AMGN opened at $265.86 on Monday. 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 stock’s 50 day moving average price is $296.08 and its two-hundred day moving average price is $289.50. The firm has a market capitalization of $142.94 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the business earned $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 20.62 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 6th. Stockholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 86.86%.

Insider Activity at Amgen

In other Amgen news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 8,771 shares of Amgen stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,707 shares of company stock worth $12,819,342. Company insiders own 0.69% of the company’s stock.

Amgen 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.