Fifth Third Bancorp trimmed its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 5.1% in the fourth quarter, HoldingsChannel reports. The firm owned 331,302 shares of the medical research company’s stock after selling 17,755 shares during the quarter. Fifth Third Bancorp’s holdings in Amgen were worth $86,351,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC raised its position in shares of Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in 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 worth $1,657,183,000 after buying an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in 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 valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Amgen Trading Down 0.9 %
AMGN stock opened at $275.42 on Friday. The company has a market capitalization of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth 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. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s 50 day moving average price is $271.55 and its two-hundred day moving average price is $306.24.
Amgen Increases Dividend
The business 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 121.90%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on AMGN. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 target price on shares of Amgen in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.65.
Get Our Latest Analysis on AMGN
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.
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