First Citizens Bank & Trust Co. boosted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,054 shares of the medical research company’s stock after buying an additional 497 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Amgen were worth $3,239,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hershey Financial Advisers LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new position in Amgen in the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at approximately $33,000. Matrix Trust Co acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $36,000. Finally, FSA Wealth Management LLC lifted its holdings in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and upped their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald started coverage on Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $329.48.
Amgen Trading Up 0.1 %
Shares of NASDAQ AMGN opened at $321.66 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a market cap of $172.55 billion, a price-to-earnings ratio of 45.95, a P/E/G ratio of 2.86 and a beta of 0.61. The business has a fifty day simple moving average of $326.07 and a 200-day simple moving average of $312.15.
Amgen (NASDAQ:AMGN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the company posted $5.00 earnings per share. Amgen’s quarterly revenue 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 year.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 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.
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