Amgen Inc. (NASDAQ:AMGN) Stock Holdings Raised by Argent Trust Co

Argent Trust Co raised its stake in Amgen Inc. (NASDAQ:AMGN) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 26,719 shares of the medical research company’s stock after purchasing an additional 964 shares during the period. Argent Trust Co’s holdings in Amgen were worth $8,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the 1st quarter valued at about $28,000. United Community Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $29,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.7 %

NASDAQ AMGN opened at $332.80 on Wednesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The company’s 50 day simple moving average is $329.00 and its 200 day simple moving average is $304.81. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a market capitalization of $178.53 billion, a P/E ratio of 47.54, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the previous year, the firm earned $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. TD Cowen lifted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. 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 note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

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.