Plimoth Trust Co. LLC Buys 371 Shares of Amgen Inc. (NASDAQ:AMGN)

Plimoth Trust Co. LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,107 shares of the medical research company’s stock after purchasing an additional 371 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Amgen were worth $2,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in Amgen in the third quarter worth $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the third quarter worth $29,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter worth $36,000. Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter worth $56,000. Finally, Icon Wealth Advisors LLC grew its stake in shares of Amgen by 3,955.0% in the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after acquiring an additional 169,748 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN traded up $2.33 during trading on Wednesday, hitting $282.63. 128,950 shares of the stock traded hands, compared to its average volume of 2,919,739. The company has a market capitalization of $151.92 billion, a P/E ratio of 36.17, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The firm has a 50-day simple moving average of $271.48 and a 200-day simple moving average of $305.15. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.96 EPS. As a group, analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.37%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMGN. Barclays increased their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a report on Friday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $314.00.

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.