Raymond James Trust N.A. Sells 828 Shares of Amgen Inc. (NASDAQ:AMGN)

Raymond James Trust N.A. decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 65,598 shares of the medical research company’s stock after selling 828 shares during the period. Raymond James Trust N.A.’s holdings in Amgen were worth $20,496,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. United Community Bank bought a new stake in shares of Amgen during the 4th quarter valued at approximately $29,000. Horizon Financial Services LLC bought a new stake in Amgen during the 1st quarter worth approximately $28,000. Delos Wealth Advisors LLC grew its holdings in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in Amgen during the 2nd quarter worth approximately $33,000. Finally, Western Pacific Wealth Management LP bought a new stake in Amgen during the 4th quarter worth approximately $37,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMGN. BMO Capital Markets boosted their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Jefferies Financial Group reissued 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. Royal Bank of Canada boosted their target price on shares of Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Stock Up 1.3 %

AMGN traded up $4.27 during trading on Friday, hitting $328.80. 1,771,092 shares of the company’s stock were exchanged, compared to its average volume of 2,582,902. 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 business’s 50 day moving average is $322.70 and its two-hundred day moving average is $299.54. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85. The stock has a market cap of $176.38 billion, a P/E ratio of 46.97, a PEG ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s revenue for the quarter 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 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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