DB Fitzpatrick & Co Inc Has $1.05 Million Position in Amgen Inc. (NASDAQ:AMGN)

DB Fitzpatrick & Co Inc cut its stake in Amgen Inc. (NASDAQ:AMGN) by 5.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,044 shares of the medical research company’s stock after selling 243 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in Amgen were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Talbot Financial LLC grew its stake in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after buying an additional 2,274 shares in the last quarter. Swiss National Bank boosted its position in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC increased its stake in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares during the last quarter. Principal Financial Group Inc. raised its position in Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after purchasing an additional 1,872 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird reissued an “underperform” rating and set a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. UBS Group decreased their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Barclays increased their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $314.91.

Amgen Price Performance

AMGN stock opened at $272.11 on Friday. 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 company’s fifty day simple moving average is $275.01 and its 200 day simple moving average is $307.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm 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.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 EPS. On average, analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 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.