Iowa State Bank Sells 165 Shares of Amgen Inc. (NASDAQ:AMGN)

Iowa State Bank lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,436 shares of the medical research company’s stock after selling 165 shares during the period. Iowa State Bank’s holdings in Amgen were worth $2,720,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares during the period. Asset Advisors Investment Management LLC increased its stake in shares of Amgen by 9.0% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after purchasing an additional 2,954 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after purchasing an additional 35,785 shares during the period. First Horizon Advisors Inc. lifted its stake in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares during the last quarter. Finally, Napa Wealth Management bought a new position in Amgen during the third quarter valued at $1,104,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada dropped their target price on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $318.83.

Amgen Trading Down 0.7 %

Shares of AMGN stock traded down $1.89 on Monday, hitting $259.33. The stock had a trading volume of 1,468,309 shares, compared to its average volume of 2,221,936. The company’s 50 day moving average price is $284.63 and its 200-day moving average price is $310.47. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $139.40 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.96 earnings per share. Analysts anticipate that Amgen Inc. will post 19.53 earnings per share for the current 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 $2.38 dividend. 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 3.67%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

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.