Massmutual Trust Co. FSB ADV Sells 452 Shares of Amgen Inc. (NASDAQ:AMGN)

Massmutual Trust Co. FSB ADV lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,901 shares of the medical research company’s stock after selling 452 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Amgen were worth $2,224,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in Amgen during the 2nd quarter valued at about $26,000. Horizon Financial Services LLC acquired a new position in Amgen during the 1st quarter valued at about $28,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in Amgen during the 2nd quarter valued at about $33,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Stock Down 0.7 %

AMGN stock opened at $317.48 on Friday. The company has a market cap of $170.31 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The business has a 50-day simple moving average of $327.58 and a 200 day simple moving average of $308.62. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. 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 (NASDAQ:AMGN) last released its 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 business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.00 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. Amgen’s dividend payout ratio (DPR) 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.