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

First National Trust Co decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the third quarter, Holdings Channel reports. The firm owned 55,622 shares of the medical research company’s stock after selling 976 shares during the period. First National Trust Co’s holdings in Amgen were worth $17,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meyer Handelman Co. raised its stake in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the period. Cornerstone Capital Inc. boosted its position in Amgen by 3.2% in the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after buying an additional 3,260 shares during the last quarter. Stanley Laman Group Ltd. acquired a new position in Amgen in the 2nd quarter worth approximately $3,354,000. Finally, Verity & Verity LLC raised its position in Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after buying an additional 2,182 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $321.81 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The company has a market cap of $172.98 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60. The stock’s 50 day simple moving average is $323.61 and its 200-day simple moving average is $317.70.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $4.96 earnings per share. As a group, equities research analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

AMGN has been the topic of a number of research reports. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note 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 target for the company. Finally, Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Company 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.