Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Meyer Handelman Co.

Meyer Handelman Co. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,896 shares of the medical research company’s stock after buying an additional 723 shares during the quarter. Amgen accounts for about 1.2% of Meyer Handelman Co.’s portfolio, making the stock its 24th largest position. Meyer Handelman Co.’s holdings in Amgen were worth $34,638,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC increased its stake in Amgen by 2.0% during the 4th quarter. Laurel Wealth Advisors LLC now owns 24,591 shares of the medical research company’s stock valued at $6,409,000 after purchasing an additional 486 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Amgen by 39.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,585 shares of the medical research company’s stock valued at $1,977,000 after purchasing an additional 2,147 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Amgen by 10.6% in the fourth quarter. Park Avenue Securities LLC now owns 34,744 shares of the medical research company’s stock worth $9,056,000 after purchasing an additional 3,340 shares during the last quarter. SS&H Financial Advisors Inc. lifted its holdings in shares of Amgen by 8.4% during the fourth quarter. SS&H Financial Advisors Inc. now owns 12,828 shares of the medical research company’s stock worth $3,344,000 after purchasing an additional 998 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its position in Amgen by 4.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,538 shares of the medical research company’s stock valued at $1,183,000 after buying an additional 204 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. 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. Barclays boosted their target price on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Bank of America reiterated an “underperform” rating and set a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Stock Down 1.1 %

Shares of NASDAQ:AMGN opened at $267.10 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. 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 business has a fifty day moving average of $277.12 and a two-hundred day moving average of $308.03. The stock has a market cap of $143.58 billion, a P/E ratio of 34.20, a PEG ratio of 2.91 and a beta of 0.56.

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, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $4.96 earnings per share. On average, research analysts expect that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.56%. Amgen’s dividend payout ratio (DPR) is 121.90%.

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.