Washington Trust Bank Sells 177 Shares of Amgen Inc. (NASDAQ:AMGN)

Washington Trust Bank lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,992 shares of the medical research company’s stock after selling 177 shares during the quarter. Washington Trust Bank’s holdings in Amgen were worth $964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in Amgen during the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the second quarter worth about $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co bought a new position in Amgen during the 3rd quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.6 %

Amgen stock traded down $1.93 during mid-day trading on Thursday, reaching $319.86. The stock had a trading volume of 77,284 shares, compared to its average volume of 2,400,304. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The company has a 50-day moving average price of $323.96 and a two-hundred day moving average price of $316.68. The company has a market capitalization of $171.87 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.81 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued 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. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.96 earnings per share. On average, analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley cut their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Finally, Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. One investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.50.

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.