FARMERS & MERCHANTS TRUST Co OF LONG BEACH Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,069 shares of the medical research company’s stock after acquiring an additional 159 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Amgen were worth $1,633,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wynn Capital LLC lifted its holdings in Amgen by 1.6% in the third quarter. Wynn Capital LLC now owns 6,528 shares of the medical research company’s stock worth $2,103,000 after buying an additional 103 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Amgen by 33.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 47,318 shares of the medical research company’s stock valued at $15,240,000 after acquiring an additional 11,954 shares in the last quarter. JGP Wealth Management LLC raised its holdings in shares of Amgen by 1.0% during the third quarter. JGP Wealth Management LLC now owns 52,856 shares of the medical research company’s stock valued at $17,031,000 after purchasing an additional 524 shares during the last quarter. DLK Investment Management LLC lifted its holdings in shares of Amgen by 0.6% during the 3rd quarter. DLK Investment Management LLC now owns 19,224 shares of the medical research company’s stock valued at $6,194,000 after buying an additional 115 shares during the period. Finally, Castle Rock Wealth Management LLC grew its stake in shares of Amgen by 1.2% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,669 shares of the medical research company’s stock valued at $2,124,000 after purchasing an additional 76 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 2.3 %

AMGN opened at $328.35 on Friday. The stock has a market capitalization of $176.43 billion, a price-to-earnings ratio of 56.51, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The business has a 50-day moving average of $326.06 and a two-hundred day moving average of $310.55.

Amgen (NASDAQ:AMGN – Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company posted $5.00 EPS. On average, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 154.91%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Robert W. Baird reiterated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, TD Cowen boosted their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.30.

Read Our Latest Research Report on Amgen

Amgen Profile

(Free Report)

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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