Bremer Bank National Association Trims Stake in Amgen Inc. (NASDAQ:AMGN)

Bremer Bank National Association trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,529 shares of the medical research company’s stock after selling 416 shares during the quarter. Bremer Bank National Association’s holdings in Amgen were worth $3,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen in the 3rd quarter worth about $29,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth about $30,000. Matrix Trust Co purchased a new stake in Amgen during the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen during the 3rd quarter valued at about $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft dropped their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wolfe Research began coverage on Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Piper Sandler dropped their price objective on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Finally, Redburn Partners decreased their target price on 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 given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.91.

Amgen Stock Up 1.0 %

Amgen stock opened at $272.11 on Monday. The business has a fifty day moving average of $273.95 and a two-hundred day moving average of $307.20. 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 firm has a market cap 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 twelve month low of $253.30 and a twelve month 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. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, February 14th. 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%. Amgen’s dividend payout ratio is presently 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.