Alhambra Investment Management LLC Has $997,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Alhambra Investment Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,825 shares of the medical research company’s stock after acquiring an additional 246 shares during the quarter. Alhambra Investment Management LLC’s holdings in Amgen were worth $997,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Verity & Verity LLC increased its holdings in shares of Amgen by 5.6% during the 4th quarter. Verity & Verity LLC now owns 92,490 shares of the medical research company’s stock worth $24,107,000 after acquiring an additional 4,895 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management increased its holdings in shares of Amgen by 4.6% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 14,157 shares of the medical research company’s stock valued at $3,690,000 after purchasing an additional 623 shares during the last quarter. O Keefe Stevens Advisory Inc. raised its position in shares of Amgen by 1.0% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 48,008 shares of the medical research company’s stock valued at $12,513,000 after purchasing an additional 457 shares during the period. Sax Wealth Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth about $252,000. Finally, Somerset Trust Co grew its stake in Amgen by 3.3% in the 4th quarter. Somerset Trust Co now owns 19,183 shares of the medical research company’s stock valued at $5,000,000 after buying an additional 621 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

Shares of Amgen stock opened at $272.11 on Friday. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The stock’s 50-day moving average is $275.01 and its 200 day moving average is $307.49. 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 Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released 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 company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

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

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. TD Cowen upped their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Leerink Partners decreased their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Wolfe Research began coverage on Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Two investment 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. Based on data from MarketBeat.com, Amgen presently has a consensus 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.