Crews Bank & Trust Makes New $1.06 Million Investment in Amgen Inc. (NASDAQ:AMGN)

Crews Bank & Trust acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, HoldingsChannel reports. The firm acquired 4,054 shares of the medical research company’s stock, valued at approximately $1,057,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after buying an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 0.8 %

NASDAQ:AMGN opened at $283.99 on Thursday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market capitalization of $152.65 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. 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’s 50 day moving average price is $271.48 and its two-hundred day moving average price is $305.15.

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 net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the firm posted $4.96 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid 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 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 115.24%.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler reduced their price target 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $314.00.

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.