Amgen Inc. (NASDAQ:AMGN) Stake Boosted by Community Trust & Investment Co.

Community Trust & Investment Co. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,446 shares of the medical research company’s stock after purchasing an additional 374 shares during the period. Community Trust & Investment Co.’s holdings in Amgen were worth $2,983,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Amgen in the third quarter valued at $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter worth about $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the 2nd quarter valued at about $30,000. Matrix Trust Co acquired a new position in Amgen during the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new position in Amgen in the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $267.10 on Wednesday. The company has a 50-day moving average of $277.12 and a two-hundred day moving average of $308.03. The stock has a market cap of $143.58 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 analyst estimates of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMGN. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler decreased their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Truist Financial cut 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. Finally, UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $314.91.

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.