Tompkins Financial Corp Has $12.74 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Tompkins Financial Corp increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,892 shares of the medical research company's stock after buying an additional 16,481 shares during the period. Amgen accounts for approximately 1.2% of Tompkins Financial Corp's holdings, making the stock its 23rd biggest position. Tompkins Financial Corp's holdings in Amgen were worth $12,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new position in shares of Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen in the 3rd quarter worth $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth about $30,000. Matrix Trust Co acquired a new position in shares of Amgen during the third quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen in the third quarter valued at about $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Up 1.0 %

Shares of AMGN traded up $2.68 during midday trading on Friday, hitting $272.11. The 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 price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company has a 50 day simple moving average of $273.95 and a two-hundred day simple moving average of $307.22. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. 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 (EPS) for the quarter, beating 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the company earned $4.96 earnings per share. The firm's revenue was up 23.2% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen's dividend payout ratio is 115.24%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Robert W. Baird reiterated an "underperform" rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Barclays upped their target price on shares of Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler cut their target price on Amgen from $344.00 to $310.00 and set an "overweight" rating for the company in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock 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.