Private Trust Co. NA Has $3.03 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Private Trust Co. NA decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,395 shares of the medical research company’s stock after selling 206 shares during the period. Private Trust Co. NA’s holdings in Amgen were worth $3,027,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its holdings in Amgen by 6.6% during the third quarter. Loomis Sayles & Co. L P now owns 854 shares of the medical research company’s stock worth $275,000 after acquiring an additional 53 shares during the period. DRW Securities LLC bought a new position in Amgen in the 3rd quarter valued at $244,000. Independent Advisor Alliance increased its position in shares of Amgen by 6.8% during the 3rd quarter. Independent Advisor Alliance now owns 27,999 shares of the medical research company’s stock valued at $9,022,000 after purchasing an additional 1,776 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Amgen by 44.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,496 shares of the medical research company’s stock worth $8,856,000 after purchasing an additional 8,524 shares during the period. Finally, Fisher Asset Management LLC raised its position in Amgen by 21.3% in the third quarter. Fisher Asset Management LLC now owns 102,352 shares of the medical research company’s stock worth $32,979,000 after acquiring an additional 17,974 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.6 %

AMGN stock opened at $296.42 on Monday. The company has a market cap of $159.33 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 2.63 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s 50-day moving average is $316.52 and its two-hundred day moving average is $318.18. Amgen Inc. has a fifty-two week low of $260.68 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate 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 net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $4.96 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.04%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Sanford C. Bernstein started coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Citigroup started coverage on Amgen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $335.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Finally, UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

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.