Independence Bank of Kentucky Has $771,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Independence Bank of Kentucky grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 109.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,960 shares of the medical research company's stock after buying an additional 1,550 shares during the period. Independence Bank of Kentucky's holdings in Amgen were worth $771,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC boosted its stake 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 in the last quarter. Assenagon Asset Management S.A. grew its holdings in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the period. Nordea Investment Management AB raised its position in Amgen by 40.7% in 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 in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company's stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AMGN. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Piper Sandler Companies reaffirmed an "overweight" rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler cut their target price on shares of Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $314.00.

Amgen Trading Up 0.5 %

AMGN traded up $1.40 during midday trading on Friday, reaching $285.42. 3,799,348 shares of the company were exchanged, compared to its average volume of 2,746,697. 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 stock has a market capitalization of $153.42 billion, a P/E ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. The stock's 50-day simple moving average is $271.06 and its 200 day simple moving average is $304.33. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts' consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during 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 company'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 business earned $4.96 EPS. As a group, analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. 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 dividend on an annualized basis and a dividend yield of 3.34%. Amgen's dividend payout ratio (DPR) is 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.