AMG National Trust Bank Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

AMG National Trust Bank decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 61.3% during the third quarter, Holdings Channel reports. The firm owned 10,157 shares of the medical research company’s stock after selling 16,102 shares during the quarter. AMG National Trust Bank’s holdings in Amgen were worth $3,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Meyer Handelman Co. grew its holdings in shares of Amgen by 7.2% in the second 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 during the period. Swiss National Bank boosted its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after purchasing an additional 2,353 shares during the period. Mizuho Securities USA LLC increased its position in shares of Amgen by 88.8% during the 3rd quarter. Mizuho Securities USA LLC now owns 78,092 shares of the medical research company’s stock valued at $25,162,000 after purchasing an additional 36,733 shares during the last quarter. Finally, Cornerstone Capital Inc. lifted its stake in shares of Amgen by 3.2% in the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after purchasing an additional 3,260 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Shares of AMGN opened at $278.76 on Tuesday. Amgen Inc. has a 52-week low of $260.52 and a 52-week high of $346.85. The stock has a market cap of $149.84 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The firm’s fifty day moving average is $319.90 and its two-hundred day moving average is $318.65. 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 (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the firm earned $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. TD Cowen boosted their target price 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. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $333.57.

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.