Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,737 shares of the medical research company’s stock after selling 2,177 shares during the quarter. Fulton Bank N.A.’s holdings in Amgen were worth $5,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Prentice Wealth Management LLC boosted its stake in Amgen by 83.6% during the third quarter. Prentice Wealth Management LLC now owns 1,610 shares of the medical research company’s stock valued at $519,000 after buying an additional 733 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in Amgen by 13.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 5,840 shares of the medical research company’s stock valued at $1,882,000 after acquiring an additional 672 shares during the last quarter. Azzad Asset Management Inc. ADV grew its stake in shares of Amgen by 44.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,923 shares of the medical research company’s stock worth $2,875,000 after purchasing an additional 2,766 shares during the last quarter. WealthBridge Capital Management LLC raised its holdings in shares of Amgen by 9.4% in the 3rd quarter. WealthBridge Capital Management LLC now owns 1,025 shares of the medical research company’s stock worth $330,000 after purchasing an additional 88 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Amgen by 25.7% in the 3rd quarter. GAMMA Investing LLC now owns 10,420 shares of the medical research company’s stock worth $3,357,000 after purchasing an additional 2,130 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 0.7 %

NASDAQ AMGN traded down $2.21 during trading on Monday, reaching $317.45. The company’s stock had a trading volume of 1,261,048 shares, compared to its average volume of 2,488,611. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $170.29 billion, a PE ratio of 45.35, a PEG ratio of 2.98 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 business has a 50-day moving average price of $327.28 and a 200-day moving average price of $309.48.

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

Amgen Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is currently 128.57%.

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Jefferies Financial Group reissued 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, Morgan Stanley decreased their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $326.30.

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.