First County Bank CT Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

First County Bank CT trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,482 shares of the medical research company’s stock after selling 924 shares during the period. Amgen accounts for 1.0% of First County Bank CT’s holdings, making the stock its 23rd biggest position. First County Bank CT’s holdings in Amgen were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amgen by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the last quarter. International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMGN. Citigroup began coverage on Amgen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price target for the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a report on Monday, October 14th. Bank of America upped 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. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $333.57.

Amgen Stock Performance

NASDAQ:AMGN opened at $289.77 on Friday. The company has a market cap of $155.76 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52 week low of $260.68 and a 52 week high of $346.85. The company has a fifty day simple moving average of $317.28 and a two-hundred day simple moving average of $318.02.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.11%. Amgen’s dividend payout ratio is currently 115.24%.

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.