Amgen Inc. (NASDAQ:AMGN) Stock Position Boosted by Home Federal Bank of Tennessee

Home Federal Bank of Tennessee lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,598 shares of the medical research company’s stock after acquiring an additional 101 shares during the period. Home Federal Bank of Tennessee’s holdings in Amgen were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth $30,000. nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter worth $33,000. Matrix Trust Co acquired a new stake in Amgen during the third quarter valued at $36,000. Finally, FSA Wealth Management LLC grew its stake in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

NASDAQ AMGN traded down $1.47 during midday trading on Tuesday, hitting $315.27. The company had a trading volume of 155,001 shares, compared to its average volume of 2,432,252. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a market capitalization of $169.12 billion, a PE ratio of 45.25, a P/E/G ratio of 2.86 and a beta of 0.61. The firm has a 50-day moving average price of $326.00 and a 200-day moving average price of $312.76.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.00 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued 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 2.85%. Amgen’s payout ratio is currently 128.57%.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Bank of America lifted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $332.55.

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.