Community Bank N.A. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Community Bank N.A. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,499 shares of the medical research company’s stock after selling 101 shares during the period. Community Bank N.A.’s holdings in Amgen were worth $4,994,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ascent Group LLC grew its holdings in shares of Amgen by 5.1% during the 3rd quarter. Ascent Group LLC now owns 11,512 shares of the medical research company’s stock worth $3,709,000 after acquiring an additional 563 shares during the period. Beacon Investment Advisory Services Inc. boosted its holdings in shares of Amgen by 1.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 42,439 shares of the medical research company’s stock valued at $13,674,000 after buying an additional 746 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Amgen by 682.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 50,663 shares of the medical research company’s stock valued at $16,340,000 after buying an additional 44,184 shares in the last quarter. Atlas Wealth LLC bought a new position in shares of Amgen in the 3rd quarter worth about $208,000. Finally, Kestra Investment Management LLC purchased a new position in Amgen during the 3rd quarter valued at about $1,106,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

Shares of AMGN opened at $282.87 on Monday. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $152.05 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60. The business’s 50 day moving average is $311.37 and its 200 day moving average is $317.16.

Amgen (NASDAQ:AMGN) last released its 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. 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 quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Research analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders 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 dividend yield of 3.18%. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMGN shares. UBS Group lowered their price objective on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Barclays raised their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Redburn Partners dropped their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Oppenheimer reissued an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $323.05.

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.