Amgen Inc. (NASDAQ:AMGN) Stock Holdings Raised by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 38.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 737 shares of the medical research company’s stock after purchasing an additional 205 shares during the period. Pinnacle Bancorp Inc.’s holdings in Amgen were worth $192,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC lifted 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 worth $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC increased its stake in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN opened at $269.43 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 business’s 50-day moving average price is $276.06 and its 200 day moving average price is $307.76. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a market cap of $144.83 billion, a P/E ratio of 34.50, a PEG ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that Amgen Inc. will post 19.57 earnings per share for the current fiscal 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 dividend of $2.38 per share. 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. This represents a $9.52 annualized dividend and a dividend yield of 3.53%. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analysts Set New Price Targets

Several research analysts have recently commented on AMGN shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Truist Financial lowered their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Citigroup dropped their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $314.91.

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.