WASHINGTON TRUST Co reduced its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,286 shares of the medical research company’s stock after selling 2,390 shares during the period. WASHINGTON TRUST Co’s holdings in Amgen were worth $10,424,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Kwmg LLC purchased a new position in Amgen in the second quarter worth $108,000. Mainstay Capital Management LLC ADV purchased a new position in Amgen in the second quarter worth $111,000. Polaris Greystone Financial Group LLC purchased a new position in Amgen in the third quarter worth $166,000. Family Firm Inc. purchased a new position in Amgen in the second quarter worth $202,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Amgen in the third quarter worth $202,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.
AMGN has been the subject of several research reports. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price for the company in a research report on Monday, October 1st. Mizuho reiterated a “buy” rating and issued a $206.00 target price on shares of Amgen in a research report on Friday, October 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Amgen in a research report on Thursday, October 25th. Royal Bank of Canada cut their target price on shares of Amgen to $182.00 and set a “market perform” rating for the company in a research report on Wednesday, October 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $223.00 target price on shares of Amgen in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $205.68.
Amgen stock opened at $191.44 on Friday. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $126.81 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.41. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $210.19.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.24. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.27 earnings per share. On average, equities analysts anticipate that Amgen, Inc. will post 14.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 15th will be paid a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 3.03%. This is an increase from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio is 41.97%.
In other news, SVP Cynthia M. Patton sold 1,777 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $202.88, for a total transaction of $360,517.76. Following the completion of the transaction, the senior vice president now directly owns 23,090 shares of the company’s stock, valued at $4,684,499.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
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Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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