Amgen Inc. (NASDAQ:AMGN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,039,720 shares of the medical research company’s stock after selling 28,346 shares during the quarter. PNC Financial Services Group Inc. owned about 0.19% of Amgen worth $335,008,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter worth $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter valued at $30,000. nVerses Capital LLC acquired a new position in shares of Amgen during the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter worth $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Dbs Bank raised Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Bank of America upped their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Down 0.9 %

AMGN stock opened at $278.76 on Tuesday. The firm has a market cap of $149.84 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The firm has a fifty day moving average price of $319.90 and a two-hundred day moving average price of $318.65. 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 announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm earned $4.96 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) 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.