Arlington Trust Co LLC Has $801,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Arlington Trust Co LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,072 shares of the medical research company’s stock after buying an additional 277 shares during the period. Arlington Trust Co LLC’s holdings in Amgen were worth $801,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB lifted its holdings in shares of Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after purchasing an additional 17,387 shares during the period. Mechanics Bank Trust Department raised its stake in Amgen by 39.5% during the third quarter. Mechanics Bank Trust Department now owns 7,749 shares of the medical research company’s stock worth $2,497,000 after buying an additional 2,195 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its stake in Amgen by 5.3% during the third quarter. Matrix Asset Advisors Inc. NY now owns 47,449 shares of the medical research company’s stock worth $15,289,000 after buying an additional 2,381 shares during the last quarter. Retirement Planning Group LLC raised its stake in Amgen by 304.3% during the third quarter. Retirement Planning Group LLC now owns 3,513 shares of the medical research company’s stock worth $1,132,000 after buying an additional 2,644 shares during the last quarter. Finally, Carnegie Investment Counsel raised its stake in Amgen by 3.8% during the third quarter. Carnegie Investment Counsel now owns 99,420 shares of the medical research company’s stock worth $32,034,000 after buying an additional 3,660 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 1.4 %

Amgen stock opened at $293.54 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market cap of $157.79 billion, a PE ratio of 38.88, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. The firm’s 50-day simple moving average is $272.26 and its 200 day simple moving average is $303.00. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. Research analysts predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The business 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 $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.24%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 126.09%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMGN shares. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler lifted their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $314.09.

Insider Buying and Selling at Amgen

In other Amgen news, 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 value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

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.