Amgen Inc. (NASDAQ:AMGN) Shares Sold by Farmers Trust Co.

Farmers Trust Co. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,124 shares of the medical research company’s stock after selling 53 shares during the quarter. Farmers Trust Co.’s holdings in Amgen were worth $684,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter worth $30,000. Horizon Financial Services LLC acquired a new position in Amgen during the first quarter worth $28,000. nVerses Capital LLC acquired a new position in shares of Amgen during the 2nd quarter valued at about $31,000. Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $33,000. Finally, FSA Wealth Management LLC increased its stake in Amgen by 182.0% during the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $317.48 on Friday. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $170.31 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.98 and a beta of 0.61. The firm has a fifty day moving average of $327.58 and a two-hundred day moving average of $308.62.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMGN. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. TD Cowen increased their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $325.55.

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.