Magnolia Capital Advisors LLC Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Magnolia Capital Advisors LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 4.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 935 shares of the medical research company’s stock after purchasing an additional 43 shares during the period. Magnolia Capital Advisors LLC’s holdings in Amgen were worth $244,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the period. Geode Capital Management LLC grew its position in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. grew its position in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC grew its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $285.42 on Monday. The company has a market capitalization of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s 50-day moving average is $271.06 and its 200 day moving average is $304.33. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.34%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 121.90%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMGN. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $314.00.

About Amgen

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.