Harbour Trust & Investment Management Co Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Harbour Trust & Investment Management Co bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,944 shares of the medical research company’s stock, valued at approximately $1,424,000.

A number of other large investors also recently modified their holdings of AMGN. OFI Invest Asset Management bought a new position in shares of Amgen in the 3rd quarter valued at $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen in the 3rd quarter valued at $26,000. VisionPoint Advisory Group LLC bought a new position in shares of Amgen in the 2nd quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Amgen in the first quarter valued at $28,000. Finally, Providence Capital Advisors LLC acquired a new stake in Amgen in the third quarter valued at $30,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. The Goldman Sachs Group increased their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $295.30.

Amgen Stock Up 0.4 %

NASDAQ AMGN traded up $1.16 during trading hours on Tuesday, hitting $270.36. The company’s stock had a trading volume of 1,792,342 shares, compared to its average volume of 2,935,562. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a market capitalization of $144.89 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The company’s 50-day simple moving average is $284.81 and its two-hundred day simple moving average is $281.54.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the firm earned $4.09 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.33%. Amgen’s payout ratio is presently 72.06%.

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.