Mitchell Mcleod Pugh & Williams Inc. Has $595,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mitchell Mcleod Pugh & Williams Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,283 shares of the medical research company’s stock after selling 472 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Amgen were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds 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. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter worth about $30,000. Matrix Trust Co acquired a new stake in Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen during the 3rd quarter worth approximately $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $272.11 on Monday. The company’s 50-day moving average is $273.95 and its 200-day moving average is $307.20. 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 stock has a market capitalization of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56.

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

Amgen Increases Dividend

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

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Citigroup dropped their price target on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Finally, Piper Sandler lowered their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Company 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.