Hilltop National Bank Acquires 758 Shares of Amgen Inc. (NASDAQ:AMGN)

Hilltop National Bank increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,875 shares of the medical research company’s stock after acquiring an additional 758 shares during the quarter. Hilltop National Bank’s holdings in Amgen were worth $1,792,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the second quarter valued at approximately $26,000. MGO One Seven LLC lifted its holdings in shares of Amgen by 17.5% during the second quarter. MGO One Seven LLC now owns 7,113 shares of the medical research company’s stock worth $2,223,000 after buying an additional 1,061 shares in the last quarter. Angeles Wealth Management LLC boosted its position in shares of Amgen by 12.3% in the second quarter. Angeles Wealth Management LLC now owns 828 shares of the medical research company’s stock valued at $259,000 after acquiring an additional 91 shares during the period. LPL Financial LLC grew its stake in shares of Amgen by 9.9% in the second quarter. LPL Financial LLC now owns 746,946 shares of the medical research company’s stock valued at $233,383,000 after acquiring an additional 66,983 shares in the last quarter. Finally, Private Wealth Partners LLC increased its position in Amgen by 30.0% during the second quarter. Private Wealth Partners LLC now owns 1,299 shares of the medical research company’s stock worth $406,000 after acquiring an additional 300 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AMGN shares. UBS Group cut their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Piper Sandler reduced their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Bank of America reaffirmed an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $314.91.

Amgen Trading Down 0.9 %

Shares of AMGN stock traded down $2.31 on Friday, hitting $261.90. The company had a trading volume of 671,499 shares, compared to its average volume of 2,703,621. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market cap of $140.78 billion, a P/E ratio of 33.53, a P/E/G ratio of 2.91 and a beta of 0.56. The stock’s 50-day moving average is $280.24 and its two-hundred day moving average is $309.15.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during 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 company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.63%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 121.90%.

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.