US Bancorp DE Trims Position in Amgen Inc. (NASDAQ:AMGN)

US Bancorp DE lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 751,095 shares of the medical research company’s stock after selling 7,639 shares during the period. US Bancorp DE’s holdings in Amgen were worth $242,012,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Keynote Financial Services LLC increased its stake in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares in the last quarter. Ascent Group LLC lifted its stake in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC boosted its holdings 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 buying an additional 32 shares during the period. Hofer & Associates. Inc increased 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 in the last quarter. Finally, Cadinha & Co. LLC raised its holdings in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock traded up $4.03 during trading hours on Thursday, reaching $319.57. 507,879 shares of the company were exchanged, compared to its average volume of 2,410,440. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The firm has a market cap of $171.43 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a 50-day moving average of $324.75 and a 200 day moving average of $314.78.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered shares of 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 note on Wednesday, August 7th. Barclays lifted their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Sanford C. Bernstein assumed coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $332.55.

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.