Amgen Inc. (NASDAQ:AMGN) Position Boosted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,054 shares of the medical research company’s stock after purchasing an additional 497 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Amgen were worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Security Financial Services INC. raised its stake in shares of Amgen by 5.1% during the 1st quarter. Security Financial Services INC. now owns 968 shares of the medical research company’s stock worth $275,000 after purchasing an additional 47 shares in the last quarter. Northwest Investment Counselors LLC raised its holdings in shares of Amgen by 7.5% during the 1st quarter. Northwest Investment Counselors LLC now owns 3,603 shares of the medical research company’s stock valued at $1,024,000 after purchasing an additional 250 shares in the last quarter. CHICAGO TRUST Co NA lifted its stake in shares of Amgen by 6.4% in the 1st quarter. CHICAGO TRUST Co NA now owns 8,487 shares of the medical research company’s stock valued at $2,413,000 after purchasing an additional 513 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in Amgen by 5.7% in the first quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock worth $627,000 after purchasing an additional 119 shares in the last quarter. Finally, Peak Financial Advisors LLC acquired a new position in Amgen during the first quarter worth $2,827,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock opened at $321.66 on Friday. The firm has a market capitalization of $172.55 billion, a P/E ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. The stock has a fifty day moving average price of $326.07 and a two-hundred day moving average price of $312.15. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion for 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 for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.00 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Sanford C. Bernstein started coverage on Amgen in a research report on Thursday. They issued an “outperform” rating and a $380.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $329.48.

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.