Cambridge Trust Co. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Cambridge Trust Co. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 9.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,427 shares of the medical research company’s stock after selling 343 shares during the quarter. Cambridge Trust Co.’s holdings in Amgen were worth $974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Vanguard Group Inc. increased its position in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares during the period. Capital International Investors increased its holdings in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after purchasing an additional 243,720 shares during the period. Royal Bank of Canada boosted its stake in shares of Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $1,556,912,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.54 during mid-day trading on Friday, hitting $333.99. The company had a trading volume of 2,106,216 shares, compared to its average volume of 1,890,833. The stock has a market cap of $179.16 billion, a price-to-earnings ratio of 47.71, a PEG ratio of 2.78 and a beta of 0.58. Amgen Inc. has a 12 month low of $228.21 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $316.30 and its two-hundred day simple moving average is $298.33.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. UBS Group boosted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets upped their price objective on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada upped their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $312.63.

Amgen 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.