Legacy Private Trust Co. Buys 784 Shares of Amgen Inc. (NASDAQ:AMGN)

Legacy Private Trust Co. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 11.3% in the fourth quarter, HoldingsChannel reports. The fund owned 7,716 shares of the medical research company’s stock after purchasing an additional 784 shares during the period. Legacy Private Trust Co.’s holdings in Amgen were worth $2,011,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMGN. Lantz Financial LLC increased its position in shares of Amgen by 5.1% in the second quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock valued at $556,000 after acquiring an additional 87 shares during the period. Strategic Financial Concepts LLC purchased a new position in Amgen during the 2nd quarter valued at about $26,000. PFG Investments LLC raised its position in Amgen by 5.0% during the 2nd quarter. PFG Investments LLC now owns 6,819 shares of the medical research company’s stock valued at $2,131,000 after purchasing an additional 322 shares during the last quarter. Choreo LLC lifted its holdings in Amgen by 303.1% in the 2nd quarter. Choreo LLC now owns 16,064 shares of the medical research company’s stock worth $4,999,000 after buying an additional 12,079 shares during the period. Finally, LGT Group Foundation grew its position in shares of Amgen by 266.2% in the 2nd quarter. LGT Group Foundation now owns 23,145 shares of the medical research company’s stock worth $7,232,000 after buying an additional 16,825 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $317.30.

Amgen Stock Performance

NASDAQ AMGN traded up $2.15 during trading hours on Wednesday, hitting $264.21. 2,342,097 shares of the company’s stock traded hands, compared to its average volume of 3,095,555. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $142.02 billion, a P/E ratio of 33.83, a P/E/G ratio of 2.91 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The business’s fifty day moving average price is $282.38 and its two-hundred day moving average price is $309.78.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.53 EPS for the current 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 given a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, February 14th. 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.