AMG National Trust Bank Trims Position in Amgen Inc. (NASDAQ:AMGN)

AMG National Trust Bank trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 61.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,157 shares of the medical research company’s stock after selling 16,102 shares during the quarter. AMG National Trust Bank’s holdings in Amgen were worth $3,273,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Capital International Investors increased its holdings in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC raised its position in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after purchasing an additional 162,223 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 0.9 %

Shares of NASDAQ:AMGN opened at $278.76 on Tuesday. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a fifty day simple moving average of $319.90 and a two-hundred day simple moving average of $318.65. The stock has a market capitalization of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and upped their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.