Norway Savings Bank Acquires 160 Shares of Amgen Inc. (NASDAQ:AMGN)

Norway Savings Bank lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,966 shares of the medical research company’s stock after purchasing an additional 160 shares during the period. Norway Savings Bank’s holdings in Amgen were worth $1,034,000 at the end of the most recent reporting period.

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

Amgen Stock Up 1.3 %

Amgen stock traded up $3.46 during midday trading on Tuesday, reaching $262.05. The stock had a trading volume of 1,630,761 shares, compared to its average volume of 2,882,019. The stock has a market capitalization of $140.86 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The firm’s fifty day simple moving average is $283.46 and its 200-day simple moving average is $310.11. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) 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. As a group, analysts expect that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMGN shares. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and upped their target price for the company from $320.00 to $333.00 in a research report on Monday, October 14th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $318.83.

About Amgen

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.