Whittier Trust Co. Has $11.38 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Whittier Trust Co. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,303 shares of the medical research company’s stock after selling 430 shares during the period. Whittier Trust Co.’s holdings in Amgen were worth $11,375,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Meyer Handelman Co. boosted its holdings in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Amgen by 37.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,642 shares of the medical research company’s stock worth $3,310,000 after purchasing an additional 3,168 shares in the last quarter. Oak Harvest Investment Services raised its holdings in Amgen by 19.1% during the 1st quarter. Oak Harvest Investment Services now owns 38,067 shares of the medical research company’s stock worth $10,823,000 after buying an additional 6,116 shares during the period. EP Wealth Advisors LLC lifted its stake in Amgen by 11.0% in the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Finally, SMI Advisory Services LLC acquired a new position in shares of Amgen in the first quarter valued at approximately $3,933,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein began coverage on Amgen in a report on Thursday. They set an “outperform” rating and a $380.00 price objective for the company. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley lowered their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Performance

Amgen stock traded down $4.96 during mid-day trading on Monday, reaching $316.70. The company’s stock had a trading volume of 821,579 shares, compared to its average volume of 2,439,980. The firm’s fifty day moving average price is $326.07 and its two-hundred day moving average price is $312.41. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85. The company has a market capitalization of $169.89 billion, a P/E ratio of 45.54, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the firm posted $5.00 earnings per share. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.