Legacy Private Trust Co. Buys 784 Shares of Amgen Inc. (NASDAQ:AMGN)

Legacy Private Trust Co. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,716 shares of the medical research company’s stock after purchasing an additional 784 shares during the quarter. Legacy Private Trust Co.’s holdings in Amgen were worth $2,011,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the 2nd quarter worth about $26,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC bought a new stake in Amgen during the 2nd quarter worth approximately $30,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Bank of America reaffirmed an “underperform” rating and set a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Truist Financial reduced their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $317.30.

Amgen Price Performance

Shares of AMGN stock traded up $2.15 during trading on Wednesday, hitting $264.21. The company had a trading volume of 2,342,097 shares, compared to its average volume of 3,095,555. The stock’s 50-day moving average is $282.38 and its two-hundred day moving average is $309.78. The stock has a market capitalization of $142.02 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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 for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the company posted $4.96 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.60%. Amgen’s dividend payout ratio is 121.90%.

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.