Amgen Inc. (NASDAQ:AMGN) Shares Sold by Bank of Hawaii

Bank of Hawaii reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 909 shares of the medical research company’s stock after selling 147 shares during the quarter. Bank of Hawaii’s holdings in Amgen were worth $293,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen in the second quarter valued at $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the second quarter worth about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter worth about $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMGN. TD Cowen lifted their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Finally, Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Shares of Amgen stock opened at $294.00 on Tuesday. The business’s 50 day moving average price is $315.69 and its 200 day moving average price is $318.05. The company has a market cap of $158.03 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.63 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.06%. Amgen’s payout ratio is 115.24%.

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.