Grimes & Company Inc. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Grimes & Company Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,264 shares of the medical research company’s stock after purchasing an additional 760 shares during the quarter. Grimes & Company Inc.’s holdings in Amgen were worth $24,048,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter valued at about $30,000. Matrix Trust Co purchased a new position in shares of Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in Amgen in the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup lowered their price objective on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Two equities 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.65.

Amgen Trading Down 0.9 %

NASDAQ AMGN opened at $275.42 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s 50 day moving average price is $271.39 and its 200 day moving average price is $305.99. 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 capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56.

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 firm 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%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid 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 dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

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.