Mengis Capital Management Inc. Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Mengis Capital Management Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 9.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,052 shares of the medical research company’s stock after acquiring an additional 500 shares during the period. Mengis Capital Management Inc.’s holdings in Amgen were worth $1,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. AMF Tjanstepension AB grew its stake in Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after acquiring an additional 17,387 shares during the period. Swedbank AB grew its stake in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock worth $173,639,000 after acquiring an additional 5,751 shares during the period. Arkadios Wealth Advisors grew its stake in Amgen by 5.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,929 shares of the medical research company’s stock worth $1,266,000 after acquiring an additional 215 shares during the period. First American Bank grew its stake in Amgen by 24.1% in the 3rd quarter. First American Bank now owns 12,965 shares of the medical research company’s stock worth $4,177,000 after acquiring an additional 2,518 shares during the period. Finally, Colton Groome Financial Advisors LLC grew its stake in Amgen by 5.5% in the 3rd quarter. Colton Groome Financial Advisors LLC now owns 6,744 shares of the medical research company’s stock worth $2,173,000 after acquiring an additional 350 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $309.72 on Tuesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market capitalization of $166.38 billion, a P/E ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. The company’s fifty day moving average price is $277.14 and its two-hundred day moving average price is $300.20.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced 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. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.07%. 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. Amgen’s dividend payout ratio is 126.09%.

Insider Activity

In other news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $314.09.

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.