Amgen Inc. (NASDAQ:AMGN) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,733 shares of the medical research company’s stock after selling 2,120 shares during the quarter. Whittier Trust Co.’s holdings in Amgen were worth $11,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keynote Financial Services LLC grew its holdings in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares in the last quarter. RFP Financial Group LLC boosted its position in shares of Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the last quarter. Hofer & Associates. Inc boosted its position in shares of Amgen by 0.5% in the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the last quarter. Blossom Wealth Management boosted its position in shares of Amgen by 3.3% in the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after acquiring an additional 33 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its position in shares of Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.7 %

Shares of NASDAQ:AMGN traded up $2.34 during midday trading on Thursday, reaching $331.83. The company had a trading volume of 314,766 shares, compared to its average volume of 2,550,818. 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 stock’s fifty day moving average price is $323.59 and its 200-day moving average price is $300.01. The stock has a market capitalization of $178.01 billion, a P/E ratio of 47.34, a PEG ratio of 2.78 and a beta of 0.58. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.00 EPS. Equities research analysts expect that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.71%. Amgen’s payout ratio is 128.57%.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Argus lifted their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley reduced their price target on shares of 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, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89.

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.