Zions Bancorporation N.A. Sells 6,481 Shares of Amgen Inc. (NASDAQ:AMGN)

Zions Bancorporation N.A. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 28.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,346 shares of the medical research company’s stock after selling 6,481 shares during the period. Zions Bancorporation N.A.’s holdings in Amgen were worth $5,267,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the third quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the second quarter valued at $33,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMGN. Citigroup started coverage on Amgen in a research report on Thursday. They issued a “neutral” rating and a $335.00 target price on the stock. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Up 0.9 %

AMGN stock opened at $301.44 on Thursday. The firm has a market cap of $162.03 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. The firm has a fifty day moving average price of $322.15 and a 200 day moving average price of $318.15. 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 fifty-two week low of $260.52 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.96 EPS. Sell-side analysts anticipate 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. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 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.