Pinnacle Bancorp Inc. Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Pinnacle Bancorp Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 38.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737 shares of the medical research company’s stock after purchasing an additional 205 shares during the period. Pinnacle Bancorp Inc.’s holdings in Amgen were worth $192,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its stake in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC boosted its position in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after acquiring an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Wolfe Research assumed coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 0.2 %

NASDAQ AMGN opened at $269.43 on Friday. The stock has a market cap of $144.83 billion, a P/E ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56. The company’s fifty day simple moving average is $276.06 and its 200-day simple moving average is $307.76. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued 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. 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%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.96 EPS. Equities research analysts predict that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued 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 yield of 3.53%. Amgen’s payout ratio 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.