Norway Savings Bank Purchases 160 Shares of Amgen Inc. (NASDAQ:AMGN)

Norway Savings Bank boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,966 shares of the medical research company’s stock after acquiring an additional 160 shares during the quarter. Norway Savings Bank’s holdings in Amgen were worth $1,034,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC grew its holdings in Amgen by 33,125.4% during the third 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. International Assets Investment Management LLC boosted its stake in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMGN. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup decreased their price objective on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $318.83.

Amgen Stock Up 1.3 %

Shares of NASDAQ AMGN traded up $3.46 during trading on Tuesday, hitting $262.05. 1,630,761 shares of the company traded hands, compared to its average volume of 2,882,019. The business’s fifty day moving average is $283.46 and its 200 day moving average is $310.11. The firm has a market capitalization of $140.86 billion, a price-to-earnings ratio of 33.55, a P/E/G ratio of 2.91 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 fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 earnings per share. Equities research analysts predict that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm 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 is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. Amgen’s payout ratio is presently 121.90%.

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.