First Western Trust Bank Sells 68 Shares of Amgen Inc. (NASDAQ:AMGN)

First Western Trust Bank trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 876 shares of the medical research company’s stock after selling 68 shares during the period. First Western Trust Bank’s holdings in Amgen were worth $282,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capital International Investors raised its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after buying an additional 162,223 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after buying an additional 1,377,007 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMGN. Wolfe Research began coverage on Amgen in a research note on Friday. They set a “peer perform” rating for the company. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. UBS Group cut their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Citigroup started coverage on Amgen in a research note on Thursday. They issued a “neutral” rating and a $335.00 price target for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $283.61 on Monday. The company has a market capitalization of $152.45 billion, a PE ratio of 36.31, a P/E/G ratio of 2.53 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The firm has a fifty day simple moving average of $320.85 and a 200 day simple moving average of $318.65.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $4.96 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Amgen Company 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.