PFG Investments LLC Has $2.08 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

PFG Investments LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,968 shares of the medical research company’s stock after selling 324 shares during the period. PFG Investments LLC’s holdings in Amgen were worth $2,077,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Talbot Financial LLC grew its holdings in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Swiss National Bank grew its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC raised its holdings in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. lifted its position in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after acquiring an additional 1,872 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Bank of America reissued an “underperform” rating and set a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research report on Tuesday, October 22nd. Piper Sandler dropped their target price on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.65.

Amgen Price Performance

Amgen stock opened at $282.95 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market cap of $152.09 billion, a P/E ratio of 36.23, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s fifty day moving average is $271.39 and its two-hundred day moving average is $305.81.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 EPS. The company’s revenue was up 23.2% on a year-over-year basis. Equities research analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 115.24%.

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.