Amgen Inc. (NASDAQ:AMGN) Shares Sold by Huntington National Bank

Huntington National Bank lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,037 shares of the medical research company’s stock after selling 301 shares during the quarter. Huntington National Bank’s holdings in Amgen were worth $15,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Meyer Handelman Co. raised its stake in shares of Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC raised its position in Amgen by 11.0% during the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after buying an additional 2,353 shares during the last quarter. Cornerstone Capital Inc. lifted its stake in Amgen by 3.2% during the 3rd quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock valued at $34,328,000 after acquiring an additional 3,260 shares during the period. Stanley Laman Group Ltd. purchased a new stake in shares of Amgen in the 2nd quarter valued at $3,354,000. Finally, Verity & Verity LLC increased its stake in shares of Amgen by 2.7% in the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMGN. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Down 1.8 %

Shares of Amgen stock opened at $295.93 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The firm has a market capitalization of $159.07 billion, a PE ratio of 37.89, a P/E/G ratio of 2.67 and a beta of 0.60. The firm’s 50-day moving average price is $322.15 and its 200 day moving average price is $318.15.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter last year, the business posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th 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 3.04%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

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.