Amgen Inc. (NASDAQ:AMGN) Shares Bought by Arrow Financial Corp

Arrow Financial Corp lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,688 shares of the medical research company’s stock after purchasing an additional 1,623 shares during the period. Arrow Financial Corp’s holdings in Amgen were worth $4,733,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Meyer Handelman Co. grew its position in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the period. Cornerstone Capital Inc. increased its stake in Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after purchasing an additional 3,260 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Amgen during the second quarter worth $3,354,000. Finally, Verity & Verity LLC lifted its position in shares of Amgen by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after buying an additional 2,182 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Sanford C. Bernstein initiated coverage on Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Stock Up 1.0 %

Shares of AMGN stock opened at $325.28 on Friday. Amgen Inc. has a 1 year low of $260.52 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s fifty day moving average is $323.61 and its 200-day moving average is $317.08. The stock has a market cap of $174.85 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. Amgen’s revenue was up 23.2% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio 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.