Tompkins Financial Corp Buys 16,481 Shares of Amgen Inc. (NASDAQ:AMGN)

Tompkins Financial Corp raised its stake in Amgen Inc. (NASDAQ:AMGN) by 50.9% in the 4th quarter, HoldingsChannel reports. The fund owned 48,892 shares of the medical research company’s stock after buying an additional 16,481 shares during the quarter. Amgen accounts for about 1.2% of Tompkins Financial Corp’s holdings, making the stock its 23rd biggest holding. Tompkins Financial Corp’s holdings in Amgen were worth $12,743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter valued at approximately $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter worth $29,000. Matrix Trust Co acquired a new position in shares of Amgen during the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Amgen during the third quarter valued at $56,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price target on shares of Amgen in a research report on Tuesday, November 12th. Barclays increased their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America reiterated an “underperform” rating and set a $256.00 target price 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Performance

Shares of AMGN stock opened at $269.43 on Friday. The company has a market capitalization of $144.83 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. 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 company’s 50 day moving average price is $276.06 and its two-hundred day moving average price is $307.76.

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

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is currently 115.24%.

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.