Sumitomo Life Insurance Co. Has $1.50 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Sumitomo Life Insurance Co. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,749 shares of the medical research company’s stock after selling 179 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Amgen were worth $1,498,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Brown Financial Advisors acquired a new stake in shares of Amgen in the second quarter valued at approximately $755,000. Sanctuary Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at $21,049,000. Lazari Capital Management Inc. raised its position in shares of Amgen by 2.1% during the second quarter. Lazari Capital Management Inc. now owns 2,367 shares of the medical research company’s stock worth $740,000 after acquiring an additional 49 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of Amgen during the second quarter valued at $846,000. Finally, Cannon Financial Strategists Inc. bought a new position in Amgen in the second quarter valued at about $352,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of research reports. Citigroup cut their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $314.00.

Amgen Trading Up 0.5 %

NASDAQ AMGN opened at $281.68 on Thursday. The stock has a market capitalization of $151.41 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.78 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 stock’s 50 day moving average price is $271.48 and its two-hundred day moving average price is $305.15. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last announced 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 net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company posted $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current fiscal 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 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 3.38%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.