Stock Yards Bank & Trust Co. Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,630 shares of the medical research company’s stock after selling 1,652 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Amgen were worth $4,595,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. SkyOak Wealth LLC boosted its position in Amgen by 64.4% during the 4th quarter. SkyOak Wealth LLC now owns 1,276 shares of the medical research company’s stock valued at $333,000 after acquiring an additional 500 shares in the last quarter. McAdam LLC lifted its stake in shares of Amgen by 5.9% during the 4th quarter. McAdam LLC now owns 856 shares of the medical research company’s stock worth $223,000 after purchasing an additional 48 shares during the last quarter. Golden State Equity Partners boosted its position in Amgen by 2,862.6% during the fourth quarter. Golden State Equity Partners now owns 5,155 shares of the medical research company’s stock valued at $1,344,000 after purchasing an additional 4,981 shares in the last quarter. Osborne Partners Capital Management LLC raised its holdings in Amgen by 0.4% in the fourth quarter. Osborne Partners Capital Management LLC now owns 12,475 shares of the medical research company’s stock worth $3,251,000 after purchasing an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its position in shares of Amgen by 6.8% during the fourth quarter. Richardson Financial Services Inc. now owns 2,004 shares of the medical research company’s stock valued at $520,000 after buying an additional 127 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN opened at $285.42 on Monday. The company has a market cap of $153.42 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56. The firm’s fifty day simple moving average is $271.06 and its two-hundred day simple moving average is $304.33. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. 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 3.34%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 121.90%.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Truist Financial decreased their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen boosted their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $314.00.

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.