City Holding Co. Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

City Holding Co. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,635 shares of the medical research company’s stock after selling 84 shares during the period. City Holding Co.’s holdings in Amgen were worth $2,772,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Leerink Partners dropped their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. UBS Group reduced their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $314.91.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $272.11 on Monday. Amgen Inc. has a 1 year low of $253.30 and a 1 year 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. The company has a market capitalization of $146.27 billion, a PE ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a fifty day moving average of $273.95 and a 200 day moving average of $307.20.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. Research analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend 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 dividend payout ratio (DPR) is currently 115.24%.

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.