Community Bank N.A. increased its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,539 shares of the medical research company’s stock after purchasing an additional 320 shares during the period. Community Bank N.A.’s holdings in Amgen were worth $1,846,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of Amgen during the second quarter worth $30,000. Arbor Wealth Management LLC lifted its position in Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Atwater Malick LLC purchased a new stake in Amgen in the third quarter valued at $39,000. Ashburton Jersey Ltd purchased a new stake in Amgen in the second quarter valued at $42,000. Finally, Strategic Blueprint LLC purchased a new stake in Amgen in the third quarter valued at $45,000. Hedge funds and other institutional investors own 76.33% of the company’s stock.
A number of equities research analysts recently weighed in on AMGN shares. Cantor Fitzgerald set a $230.00 price target on shares of Amgen and gave the company a “hold” rating in a research report on Monday, September 30th. Credit Suisse Group reissued an “outperform” rating and issued a $225.00 price target (up from $202.00) on shares of Amgen in a research report on Friday, August 16th. Goldman Sachs Group set a $243.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Monday, September 30th. Sanford C. Bernstein began coverage on shares of Amgen in a report on Monday, October 14th. They issued an “outperform” rating for the company. Finally, Mizuho reaffirmed a “hold” rating and issued a $212.00 target price on shares of Amgen in a report on Sunday, September 29th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $217.28.
Shares of NASDAQ:AMGN opened at $203.06 on Friday. The company has a 50-day simple moving average of $198.90 and a 200-day simple moving average of $187.12. Amgen, Inc. has a one year low of $166.30 and a one year high of $211.90. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89. The stock has a market capitalization of $121.93 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.69 and a beta of 1.11.
Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the prior year, the company earned $3.83 earnings per share. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Amgen, Inc. will post 14.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be issued a dividend of $1.45 per share. The ex-dividend date is Thursday, November 14th. This represents a $5.80 annualized dividend and a yield of 2.86%. Amgen’s dividend payout ratio is currently 40.28%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. 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; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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