Amgen Inc. (NASDAQ:AMGN) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,631 shares of the medical research company’s stock after selling 276 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Amgen were worth $3,292,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new stake in shares of Amgen in the 3rd quarter worth about $25,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter worth $29,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory purchased a new stake in Amgen during the 3rd quarter worth about $56,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 1.0 %

Shares of NASDAQ AMGN traded down $2.63 during midday trading on Monday, reaching $258.59. 4,435,764 shares of the company’s stock were exchanged, compared to its average volume of 2,675,773. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The business’s fifty day moving average price is $284.63 and its two-hundred day moving average price is $310.47. The stock has a market capitalization of $139.00 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business posted $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMGN shares. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Bank of America reissued an “underperform” rating and set a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Leerink Partners lowered their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada reduced their target price on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $318.83.

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.