Jacobs & Co. CA Acquires 78 Shares of Amgen Inc. (NASDAQ:AMGN)

Jacobs & Co. CA boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 44,156 shares of the medical research company’s stock after purchasing an additional 78 shares during the period. Jacobs & Co. CA’s holdings in Amgen were worth $11,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after purchasing an additional 345,537 shares during the period. Geode Capital Management LLC boosted its holdings in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after acquiring an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after acquiring an additional 251,876 shares in the last quarter. Janus Henderson Group PLC grew its stake in Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America reissued an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Citigroup lowered their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. TD Cowen increased their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company dropped their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $314.91.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded down $3.17 during trading on Friday, hitting $261.04. 1,396,206 shares of the company were exchanged, compared to its average volume of 2,820,186. The company has a market cap of $140.32 billion, a PE ratio of 33.42, a P/E/G ratio of 2.91 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 current ratio of 1.32 and a quick ratio of 0.96. The stock has a 50 day moving average of $280.24 and a 200 day moving average of $309.15.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the company earned $4.96 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.53 EPS for the current 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 given 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 yield of 3.65%. Amgen’s payout ratio 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.