Amgen Inc. (NASDAQ:AMGN) Shares Sold by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,648 shares of the medical research company’s stock after selling 371 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Amgen were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMGN. Cadinha & Co. LLC lifted its holdings in Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after buying an additional 32 shares in the last quarter. Lansing Street Advisors raised its position in shares of Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the last quarter. Unionview LLC lifted its stake in shares of Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 32 shares during the period. Traveka Wealth LLC boosted its holdings in Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock valued at $260,000 after acquiring an additional 33 shares during the last quarter. Finally, AM Investment Strategies LLC increased its position in Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.8 %

Shares of AMGN stock traded up $2.18 during trading on Wednesday, reaching $282.48. The company’s stock had a trading volume of 94,197 shares, compared to its average volume of 2,918,206. The company has a market cap of $151.84 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business has a fifty day moving average price of $271.48 and a 200-day moving average price of $305.15. 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 released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. Analysts anticipate that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMGN shares. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Barclays upped their target price 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. Citigroup reduced their price target on Amgen from $310.00 to $295.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $314.00.

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.