Ledyard National Bank Has $9.94 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Ledyard National Bank cut its position in Amgen Inc. (NASDAQ:AMGN) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,839 shares of the medical research company’s stock after selling 550 shares during the period. Ledyard National Bank’s holdings in Amgen were worth $9,937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares during the last quarter. Capital Wealth Planning LLC raised its stake in shares of Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after buying an additional 830,405 shares during the last quarter. Finally, Granite Bay Wealth Management LLC grew its holdings in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMGN shares. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and boosted their price objective for the company from $320.00 to $333.00 in a report on Monday, October 14th. Cantor Fitzgerald started coverage on shares of Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. Finally, Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $332.55.

Amgen Trading Down 1.5 %

Shares of NASDAQ:AMGN opened at $316.74 on Tuesday. The company has a market capitalization of $169.91 billion, a P/E ratio of 45.25, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business’s 50 day simple moving average is $326.00 and its 200 day simple moving average is $312.76.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company earned $5.00 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

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.