Carnegie Investment Counsel Has $27.32 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Carnegie Investment Counsel increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,819 shares of the medical research company's stock after purchasing an additional 5,399 shares during the quarter. Amgen accounts for 0.8% of Carnegie Investment Counsel's holdings, making the stock its 29th biggest position. Carnegie Investment Counsel's holdings in Amgen were worth $27,320,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Bradley Foster & Sargent Inc. CT boosted its holdings in shares of Amgen by 2.7% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 16,243 shares of the medical research company's stock valued at $5,075,000 after buying an additional 424 shares during the last quarter. Blair William & Co. IL raised its position in Amgen by 38.3% during the second quarter. Blair William & Co. IL now owns 187,658 shares of the medical research company's stock worth $58,634,000 after acquiring an additional 51,957 shares in the last quarter. Waterloo Capital L.P. acquired a new stake in Amgen in the second quarter valued at $231,000. Seven Eight Capital LP bought a new position in shares of Amgen in the 2nd quarter valued at about $845,000. Finally, Marathon Trading Investment Management LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $469,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 1.0 %

Shares of Amgen stock traded up $2.68 during midday trading on Friday, reaching $272.11. The company had a trading volume of 3,244,015 shares, compared to its average volume of 3,118,001. The stock has a fifty day moving average price of $275.01 and a 200 day moving average price of $307.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market cap of $146.27 billion, a PE ratio of 34.84, a P/E/G ratio of 2.68 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 (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.50%. This is a boost from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) is currently 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reduced their target price on Amgen from $360.00 to $330.00 and set an "outperform" rating for the company in a research note on Wednesday, November 27th. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Finally, Bank of America reaffirmed an "underperform" rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus 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.