First Interstate Bank Has $434,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Interstate Bank grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 19.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,389 shares of the medical research company’s stock after purchasing an additional 225 shares during the quarter. First Interstate Bank’s holdings in Amgen were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital International Investors raised its position 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 purchasing an additional 5,923,915 shares during the period. Norges Bank acquired a new position in Amgen in the 4th quarter valued at about $1,556,912,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 3,045,657 shares during the period. Janus Henderson Group PLC lifted its position in Amgen by 137.1% during 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 acquiring an additional 1,377,007 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its position in 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 acquiring an additional 830,405 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley decreased their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Royal Bank of Canada boosted their price target on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $327.28.

Amgen Trading Up 1.7 %

NASDAQ AMGN opened at $325.92 on Tuesday. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The business has a 50 day moving average price of $326.56 and a 200-day moving average price of $302.67. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market cap of $175.13 billion, a price-to-earnings ratio of 46.56, a P/E/G ratio of 2.85 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.00 EPS. As a group, equities analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.76%. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

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.