DB Fitzpatrick & Co Inc Sells 243 Shares of Amgen Inc. (NASDAQ:AMGN)

DB Fitzpatrick & Co Inc trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,044 shares of the medical research company’s stock after selling 243 shares during the period. DB Fitzpatrick & Co Inc’s holdings in Amgen were worth $1,054,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. State Street Corp lifted its stake in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares during the period. Geode Capital Management LLC grew its holdings in Amgen by 0.9% during 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. raised its holdings in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC boosted its position in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its position in shares of Amgen by 33,125.4% in 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 buying an additional 4,446,757 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMGN shares. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company dropped their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Bank of America reiterated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Two equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $314.91.

Amgen Stock Up 1.0 %

Shares of AMGN stock opened at $272.11 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. 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 stock has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The firm’s 50-day moving average is $275.01 and its 200-day moving average is $307.49.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the firm posted $4.96 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. 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.