Adirondack Trust Co. Grows Position in Amgen Inc. (NASDAQ:AMGN)

Adirondack Trust Co. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 2,978 shares of the medical research company’s stock after buying an additional 88 shares during the period. Adirondack Trust Co.’s holdings in Amgen were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter valued at approximately $30,000. Matrix Trust Co purchased a new stake in Amgen during the 3rd quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen in the third quarter worth $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $273.44 on Thursday. The stock has a market cap of $146.98 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 2.79 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 company has a 50 day simple moving average of $271.91 and a two-hundred day simple moving average of $306.43. 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 (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.96 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMGN. 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. Royal Bank of Canada lowered their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America restated an “underperform” rating and set a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $314.91.

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.