German American Bancorp Inc. Has $586,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

German American Bancorp Inc. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,819 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. German American Bancorp Inc.’s holdings in Amgen were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cypress Capital Group increased its stake in shares of Amgen by 1.0% in the third quarter. Cypress Capital Group now owns 13,519 shares of the medical research company’s stock valued at $4,356,000 after buying an additional 136 shares during the period. Intech Investment Management LLC increased its holdings in Amgen by 24.1% in the third quarter. Intech Investment Management LLC now owns 65,900 shares of the medical research company’s stock valued at $21,234,000 after purchasing an additional 12,791 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Amgen by 42.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 816,191 shares of the medical research company’s stock worth $262,985,000 after purchasing an additional 241,219 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in Amgen by 1.3% during the 3rd quarter. King Luther Capital Management Corp now owns 517,967 shares of the medical research company’s stock worth $166,894,000 after buying an additional 6,587 shares during the period. Finally, Cornerstone Advisors LLC grew its position in shares of Amgen by 10.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 25,400 shares of the medical research company’s stock valued at $8,184,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 2.8 %

AMGN stock opened at $287.87 on Thursday. The stock has a fifty day moving average of $318.08 and a 200-day moving average of $318.22. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a market capitalization of $154.74 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.53 and a beta of 0.60. 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 (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate 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 period last year, the firm earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.57.

About Amgen

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.