Glenview Trust Co Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Glenview Trust Co grew its stake in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 0.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,219 shares of the medical research company’s stock after buying an additional 58 shares during the quarter. Glenview Trust Co’s holdings in Amgen were worth $2,078,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Roundview Capital LLC lifted its holdings in shares of Amgen by 1.3% during the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock valued at $2,027,000 after acquiring an additional 107 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Amgen by 39.2% in the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock worth $555,000 after buying an additional 647 shares in the last quarter. Ergoteles LLC acquired a new position in Amgen in the 1st quarter worth $219,000. First Western Trust Bank acquired a new position in Amgen in the 1st quarter worth $334,000. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Amgen by 2.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock worth $5,970,000 after buying an additional 513 shares in the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $259.70 on Wednesday. Amgen Inc. has a fifty-two week low of $214.39 and a fifty-two week high of $296.67. The company has a quick ratio of 1.35, a current ratio of 1.68 and a debt-to-equity ratio of 10.17. The company has a market cap of $138.57 billion, a PE ratio of 20.83, a P/E/G ratio of 1.87 and a beta of 0.67. The firm has a 50-day simple moving average of $273.21 and a 200 day simple moving average of $257.04.

Amgen (NASDAQ:AMGNGet Rating) last posted its earnings results on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.43 by $0.27. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the firm earned $4.67 EPS. Amgen’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 17.62 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be given a $2.13 dividend. This is a boost from Amgen’s previous quarterly dividend of $1.94. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 annualized dividend and a yield of 3.28%. Amgen’s dividend payout ratio is 62.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer boosted their price objective on shares of Amgen from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Tuesday, December 6th. Truist Financial upped their target price on shares of Amgen from $266.00 to $280.00 and gave the company a “hold” rating in a research note on Tuesday, November 8th. Royal Bank of Canada upped their target price on shares of Amgen from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, November 4th. Wells Fargo & Company upped their target price on shares of Amgen from $250.00 to $285.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Finally, StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 17th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $253.57.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 545 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total value of $159,979.30. Following the completion of the transaction, the senior vice president now owns 13,009 shares in the company, valued at approximately $3,818,661.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Amgen Company Profile

(Get Rating)

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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