Private Trust Co. NA Has $3.03 Million Position in Amgen Inc. (NASDAQ:AMGN)

Private Trust Co. NA decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,395 shares of the medical research company’s stock after selling 206 shares during the quarter. Private Trust Co. NA’s holdings in Amgen were worth $3,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Keynote Financial Services LLC boosted its holdings in shares of Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC increased its position in Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc lifted its stake in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC increased its stake 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 worth $1,678,000 after purchasing an additional 32 shares during the period. Finally, Lansing Street Advisors lifted its holdings in Amgen by 1.3% during the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMGN. Citigroup assumed coverage on Amgen in a report on Thursday, November 14th. They set a “neutral” rating and a $335.00 target price for the company. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Up 0.6 %

Shares of AMGN opened at $296.42 on Monday. The company has a market capitalization of $159.33 billion, a PE ratio of 37.71, a PEG ratio of 2.63 and a beta of 0.60. The stock’s 50-day moving average price is $316.52 and its two-hundred day moving average price is $318.18. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12 month low of $260.68 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

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.