Sanibel Captiva Trust Company Inc. Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 80,892 shares of the medical research company’s stock after purchasing an additional 588 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Amgen were worth $21,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Financial Services LTD. grew its position in shares of Amgen by 32.5% during the 4th quarter. Howard Financial Services LTD. now owns 2,780 shares of the medical research company’s stock valued at $725,000 after acquiring an additional 682 shares during the period. Alhambra Investment Management LLC lifted its stake in Amgen by 6.9% in the fourth quarter. Alhambra Investment Management LLC now owns 3,825 shares of the medical research company’s stock valued at $997,000 after purchasing an additional 246 shares during the last quarter. Verity & Verity LLC grew its holdings in Amgen by 5.6% during the fourth quarter. Verity & Verity LLC now owns 92,490 shares of the medical research company’s stock valued at $24,107,000 after purchasing an additional 4,895 shares during the period. B & T Capital Management DBA Alpha Capital Management increased its position in 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 worth $3,690,000 after buying an additional 623 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. raised its stake 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 buying an additional 457 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 1.0 %

AMGN opened at $272.11 on Friday. The business’s fifty day simple moving average is $275.01 and its 200 day simple moving average is $307.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $146.27 billion, a PE ratio of 34.84, a P/E/G 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 the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.96 EPS. As a group, research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm 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 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 of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein began coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Piper Sandler dropped their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price 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.