Huntington National Bank Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Huntington National Bank raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,132 shares of the medical research company’s stock after acquiring an additional 1,095 shares during the period. Huntington National Bank’s holdings in Amgen were worth $13,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. State Street Corp grew its stake in Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after buying an additional 345,537 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after acquiring an additional 352,143 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen during the 4th quarter valued at $1,541,991,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the sale, the executive vice president now owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $324.00 price objective on shares of Amgen in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.04.

Amgen Stock Down 0.4 %

NASDAQ:AMGN opened at $305.70 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a 50 day moving average of $303.16 and a 200-day moving average of $297.69. The firm has a market capitalization of $164.22 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

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.