Pioneer Trust Bank N A OR Sells 1,840 Shares of Amgen Inc. (NASDAQ:AMGN)

Pioneer Trust Bank N A OR cut its position in Amgen Inc. (NASDAQ:AMGN) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,925 shares of the medical research company’s stock after selling 1,840 shares during the period. Pioneer Trust Bank N A OR’s holdings in Amgen were worth $1,707,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in Amgen in the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the fourth quarter valued at about $29,000. Providence Capital Advisors LLC purchased a new position in shares of Amgen during the third quarter valued at about $30,000. Finally, Planned Solutions Inc. purchased a new position in Amgen in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN traded up $5.55 during trading hours on Thursday, hitting $312.86. 2,920,412 shares of the company were exchanged, compared to its average volume of 2,899,693. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a market cap of $167.83 billion, a price-to-earnings ratio of 43.90, a P/E/G ratio of 3.00 and a beta of 0.60. The firm’s fifty day moving average is $275.65 and its 200 day moving average is $281.74.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the company earned $3.98 earnings per share. The business’s quarterly revenue was up 22.0% on a year-over-year basis. On average, equities analysts anticipate that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 2.88%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on AMGN shares. Royal Bank of Canada cut their price target on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. UBS Group raised their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Morgan Stanley raised their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, BMO Capital Markets boosted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.65.

About Amgen

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.