1ST Source Bank Has $925,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

1ST Source Bank lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,872 shares of the medical research company’s stock after selling 41 shares during the period. 1ST Source Bank’s holdings in Amgen were worth $925,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMGN. Pathway Financial Advisers LLC lifted its position in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC boosted its position in shares of Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares during the period. Finally, Janus Henderson Group PLC raised its position in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMGN. Leerink Partners lowered their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $319.68.

Amgen Trading Down 1.3 %

Shares of AMGN stock opened at $270.62 on Friday. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $145.47 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.91 and a beta of 0.55. The stock has a 50-day moving average of $302.02 and a 200-day moving average of $314.63.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.52%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Amgen 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.