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

Arlington Trust Co LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,795 shares of the medical research company’s stock after selling 70 shares during the quarter. Arlington Trust Co LLC’s holdings in Amgen were worth $901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AM Investment Strategies LLC boosted its position in Amgen by 0.4% during the 3rd quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock valued at $2,407,000 after purchasing an additional 33 shares during the period. Visionary Horizons LLC grew its position in Amgen by 3.2% in the 3rd quarter. Visionary Horizons LLC now owns 4,269 shares of the medical research company’s stock worth $1,376,000 after purchasing an additional 132 shares during the last quarter. James Investment Research Inc. raised its holdings in shares of Amgen by 2.9% during the third quarter. James Investment Research Inc. now owns 4,109 shares of the medical research company’s stock valued at $1,324,000 after buying an additional 116 shares during the last quarter. Creative Capital Management Investments LLC grew its holdings in Amgen by 5,308.3% in the 3rd quarter. Creative Capital Management Investments LLC now owns 649 shares of the medical research company’s stock worth $209,000 after buying an additional 637 shares in the last quarter. Finally, Tower Wealth Partners Inc. increased its position in Amgen by 20.8% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,353 shares of the medical research company’s stock valued at $436,000 after acquiring an additional 233 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock traded down $0.94 on Friday, hitting $319.22. 1,826,772 shares of the stock were exchanged, compared to its average volume of 2,418,089. The firm has a market capitalization of $171.53 billion, a PE ratio of 40.87, a P/E/G ratio of 2.84 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average is $324.47 and its two-hundred day moving average is $315.19. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 181.58%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts expect that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.82%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMGN shares. Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.