First Hawaiian Bank Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

First Hawaiian Bank decreased its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,415 shares of the medical research company’s stock after selling 39 shares during the period. First Hawaiian Bank’s holdings in Amgen were worth $1,411,000 at the end of the most recent quarter.

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

Amgen Price Performance

Amgen stock opened at $264.21 on Friday. The stock has a market cap of $142.02 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a fifty day simple moving average of $280.24 and a 200-day simple moving average of $309.15. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (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 analysts’ expectations of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.53 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. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.60%. Amgen’s dividend payout ratio is presently 121.90%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMGN. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Bank of America reissued an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Piper Sandler dropped their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada dropped their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $317.30.

Amgen 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.