Wesbanco Bank Inc. Has $16.76 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Wesbanco Bank Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,019 shares of the medical research company’s stock after selling 3,836 shares during the period. Wesbanco Bank Inc.’s holdings in Amgen were worth $16,761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Amgen in the second quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new stake in Amgen in the second quarter worth $30,000. nVerses Capital LLC acquired a new position in Amgen during the second quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter worth about $33,000. Finally, Matrix Trust Co bought a new stake in shares of Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price target for the stock from $320.00 to $333.00 in a research note on Monday. TD Cowen upped their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $326.95.

Amgen Trading Down 1.1 %

AMGN stock opened at $324.62 on Tuesday. The business has a fifty day moving average price of $326.05 and a 200 day moving average price of $311.20. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The stock has a market capitalization of $174.14 billion, a price-to-earnings ratio of 46.37, a P/E/G ratio of 2.86 and a beta of 0.61. 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 released its quarterly 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. Amgen’s payout ratio is 128.57%.

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.