AMG National Trust Bank Sells 3,288 Shares of Amgen Inc. (NASDAQ:AMGN)

AMG National Trust Bank lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,259 shares of the medical research company’s stock after selling 3,288 shares during the quarter. AMG National Trust Bank’s holdings in Amgen were worth $8,204,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital International Investors raised its stake in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Norges Bank acquired a new stake in Amgen during the 4th quarter valued at $1,556,912,000. Vanguard Group Inc. raised its position in Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after purchasing an additional 1,377,007 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in shares of Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. BMO Capital Markets upped their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. TD Cowen boosted their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Trading Up 1.3 %

Shares of AMGN traded up $4.27 during trading hours on Friday, reaching $328.80. The stock had a trading volume of 1,771,092 shares, compared to its average volume of 2,582,902. The company has a market cap of $176.38 billion, a P/E ratio of 46.97, a P/E/G ratio of 2.78 and a beta of 0.58. Amgen Inc. has a 52 week low of $248.38 and a 52 week high of $346.85. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a 50-day moving average of $322.70 and a 200 day moving average of $299.51.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.00 earnings per share. On average, sell-side analysts expect that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.74%. Amgen’s dividend payout ratio is currently 128.57%.

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.