Arrow Financial Corp Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Arrow Financial Corp lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,597 shares of the medical research company's stock after buying an additional 909 shares during the period. Arrow Financial Corp's holdings in Amgen were worth $4,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in Amgen during the fourth quarter valued at approximately $30,374,000. FAS Wealth Partners Inc. raised its holdings in Amgen by 3.4% in the 4th quarter. FAS Wealth Partners Inc. now owns 8,926 shares of the medical research company's stock worth $2,327,000 after purchasing an additional 293 shares during the period. Westbourne Investments Inc. purchased a new position in Amgen during the fourth quarter valued at $476,000. Parvin Asset Management LLC bought a new stake in Amgen during the fourth quarter valued at about $1,456,000. Finally, Guardian Capital LP increased its position in Amgen by 1.1% in the fourth quarter. Guardian Capital LP now owns 23,248 shares of the medical research company's stock worth $6,059,000 after buying an additional 261 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMGN. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Royal Bank of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $308.18.

Amgen Stock Down 3.7 %

NASDAQ:AMGN traded down $10.48 during midday trading on Tuesday, hitting $269.58. 1,775,048 shares of the company were exchanged, compared to its average volume of 2,763,926. The company has a fifty day simple moving average of $299.13 and a 200 day simple moving average of $290.78. The company has a market capitalization of $144.94 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.53%. Amgen's dividend payout ratio (DPR) is presently 126.09%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was 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 in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

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.