Wallington Asset Management LLC Has $10.89 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Wallington Asset Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,789 shares of the medical research company’s stock after selling 250 shares during the quarter. Amgen comprises about 1.6% of Wallington Asset Management LLC’s portfolio, making the stock its 29th biggest position. Wallington Asset Management LLC’s holdings in Amgen were worth $10,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter valued at about $30,000. Matrix Trust Co purchased a new stake in shares of Amgen during the 3rd quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen during the 3rd quarter valued at $56,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $272.11 on Friday. The firm’s 50 day simple moving average is $275.01 and its two-hundred day simple 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. The company has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced 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. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMGN. Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Truist Financial decreased their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Citigroup dropped their target price on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Finally, Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two 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 assigned a strong buy rating to the company. According to MarketBeat.com, Amgen presently 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.