Sandy Spring Bank reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,032 shares of the medical research company’s stock after selling 169 shares during the quarter. Sandy Spring Bank’s holdings in Amgen were worth $2,550,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. grew its position in Amgen by 5.2% during the third quarter. Victory Capital Management Inc. now owns 877,511 shares of the medical research company’s stock worth $223,029,000 after buying an additional 43,483 shares during the period. Citizens National Bank Trust Department grew its position in Amgen by 11.6% during the third quarter. Citizens National Bank Trust Department now owns 10,564 shares of the medical research company’s stock worth $2,685,000 after buying an additional 1,100 shares during the period. Hengehold Capital Management LLC acquired a new position in Amgen during the third quarter worth about $201,000. LPL Financial LLC grew its position in Amgen by 5.2% during the third quarter. LPL Financial LLC now owns 352,596 shares of the medical research company’s stock worth $89,616,000 after buying an additional 17,422 shares during the period. Finally, Banco Santander S.A. grew its position in Amgen by 5,644.0% during the third quarter. Banco Santander S.A. now owns 77,544 shares of the medical research company’s stock worth $19,709,000 after buying an additional 76,194 shares during the period. Institutional investors own 75.23% of the company’s stock.
Several research analysts have weighed in on AMGN shares. Mizuho lowered their target price on shares of Amgen from $260.00 to $215.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Credit Suisse Group reduced their price target on shares of Amgen from $286.00 to $284.00 and set an “outperform” rating on the stock in a report on Tuesday, October 27th. UBS Group began coverage on shares of Amgen in a report on Wednesday, October 28th. They issued a “neutral” rating and a $232.00 price target on the stock. SunTrust Banks upped their price target on shares of Amgen from $254.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, BidaskClub downgraded shares of Amgen from a “sell” rating to a “strong sell” rating in a report on Saturday, October 17th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $253.54.
In other news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $241.02, for a total value of $241,020.00. Also, Director R Sanders Williams sold 250 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $242.40, for a total transaction of $60,600.00. Following the completion of the sale, the director now directly owns 4,909 shares of the company’s stock, valued at approximately $1,189,941.60. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
NASDAQ:AMGN traded down $0.97 during trading hours on Tuesday, reaching $235.69. 11,395 shares of the company were exchanged, compared to its average volume of 2,850,687. The company has a debt-to-equity ratio of 3.12, a current ratio of 2.28 and a quick ratio of 1.88. The firm has a market cap of $137.78 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.03 and a beta of 0.81. Amgen Inc. has a 52-week low of $177.05 and a 52-week high of $264.97. The stock has a 50 day simple moving average of $235.16 and a 200 day simple moving average of $239.08.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Monday, November 2nd. The medical research company reported $4.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.75 by $0.62. Amgen had a net margin of 29.42% and a return on equity of 95.55%. On average, analysts predict that Amgen Inc. will post 16.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, November 13th. Amgen’s payout ratio is currently 43.18%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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