Penobscot Investment Management Company Inc. Has $5.43 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Penobscot Investment Management Company Inc. lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,846 shares of the medical research company’s stock after selling 221 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Amgen were worth $5,428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AMGN. OFI Invest Asset Management acquired a new position in shares of Amgen in the 3rd quarter valued at $26,000. Briaud Financial Planning Inc bought a new stake in Amgen in the third quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the 4th quarter worth about $29,000. Providence Capital Advisors LLC acquired a new position in Amgen in the third quarter valued at about $30,000. Finally, Planned Solutions Inc. acquired a new stake in shares of Amgen during the fourth quarter worth approximately $30,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock traded down $2.21 during trading on Tuesday, reaching $274.17. 608,262 shares of the company’s stock were exchanged, compared to its average volume of 2,793,511. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The firm’s fifty day moving average price is $274.96 and its 200-day moving average price is $281.45. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The stock has a market capitalization of $147.06 billion, a PE ratio of 22.04, a PEG ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.09 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. StockNews.com lowered shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. UBS Group decreased their price objective on Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Raymond James started coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Finally, Morgan Stanley cut their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $297.40.

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.