Mitchell Mcleod Pugh & Williams Inc. Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Mitchell Mcleod Pugh & Williams Inc. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,283 shares of the medical research company’s stock after selling 472 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Amgen were worth $595,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMGN. Talbot Financial LLC increased its stake 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 last quarter. Swiss National Bank lifted its holdings in Amgen by 0.3% during the third 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 period. Asset Advisors Investment Management LLC grew its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after purchasing an additional 2,954 shares during the period. Principal Financial Group Inc. grew its stake 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 period. Finally, First Horizon Advisors Inc. increased its position in shares of Amgen by 3.2% during the 3rd 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 last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial reduced their price target 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. Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a report on Tuesday, October 22nd. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Price Performance

NASDAQ:AMGN opened at $272.11 on Monday. The stock has a fifty day moving average of $273.95 and a 200 day moving average of $307.20. The firm has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the firm posted $4.96 earnings per share. On average, research analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

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

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.