M.E. Allison & CO. Inc. Takes Position in Amgen Inc. (NASDAQ:AMGN)

M.E. Allison & CO. Inc. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,489 shares of the medical research company's stock, valued at approximately $388,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Talbot Financial LLC increased its position in shares of Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after buying an additional 2,274 shares during the period. Swiss National Bank increased its holdings in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock worth $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC lifted its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock worth $11,578,000 after purchasing an additional 2,954 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Amgen by 3.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company's stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 1.0 %

NASDAQ AMGN traded up $2.68 on Monday, hitting $272.11. The company's stock had a trading volume of 3,244,015 shares, compared to its average volume of 3,140,853. The firm has a market cap of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company's 50-day simple moving average is $273.95 and its 200 day simple moving average is $307.18. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm's revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.96 earnings per share. Research analysts predict that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced 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. This is an increase from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. Amgen's dividend payout ratio is 121.90%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Leerink Partners dropped their price objective on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Truist Financial cut their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. StockNews.com cut shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, December 18th. Finally, Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. 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 stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average price target 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.