Grove Bank & Trust Acquires 341 Shares of Amgen Inc. (AMGN)
Grove Bank & Trust raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 87.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 731 shares of the medical research company’s stock after buying an additional 341 shares during the period. Grove Bank & Trust’s holdings in Amgen were worth $126,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. TrimTabs Asset Management LLC lifted its position in Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after buying an additional 288 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its position in Amgen by 19.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after buying an additional 100 shares in the last quarter. Jackson Grant Investment Advisers Inc. lifted its position in Amgen by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. American Beacon Advisors Inc. acquired a new position in shares of Amgen during the first quarter worth $106,000. Finally, Nelson Roberts Investment Advisors LLC acquired a new position in shares of Amgen during the first quarter worth $121,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on AMGN. Royal Bank Of Canada began coverage on shares of Amgen in a research report on Thursday, September 14th. They set a “sector perform” rating and a $192.00 target price on the stock. Bank of America Corporation boosted their target price on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $203.00 target price on shares of Amgen in a research report on Friday. Morgan Stanley reissued an “overweight” rating and set a $196.00 target price (up from $189.00) on shares of Amgen in a research report on Friday. Finally, Mizuho reissued a “buy” rating and set a $198.00 target price on shares of Amgen in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $189.99.
Shares of Amgen Inc. (NASDAQ AMGN) opened at 185.46 on Tuesday. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $191.10. The firm’s 50-day moving average is $181.85 and its 200 day moving average is $170.42. The company has a market cap of $135.33 billion, a price-to-earnings ratio of 16.89 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. Amgen’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $2.84 earnings per share. Equities analysts expect that Amgen Inc. will post $12.58 EPS for the current fiscal year.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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