Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Grove Bank & Trust

Grove Bank & Trust boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,750 shares of the medical research company’s stock after buying an additional 93 shares during the period. Grove Bank & Trust’s holdings in Amgen were worth $717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Talbot Financial LLC raised its holdings in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after buying an additional 2,274 shares during the period. Swiss National Bank lifted its holdings in shares of Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC boosted its position in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares during the period. Principal Financial Group Inc. increased its holdings in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $272.11 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50 day moving average of $273.95 and a 200-day moving average of $307.20. The company has a market cap of $146.27 billion, a PE ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm earned $4.96 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMGN. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and an average target price of $314.91.

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.