Smithfield Trust Co Buys 230 Shares of Amgen Inc. (NASDAQ:AMGN)

Smithfield Trust Co raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,668 shares of the medical research company’s stock after acquiring an additional 230 shares during the period. Smithfield Trust Co’s holdings in Amgen were worth $1,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMGN. Meyer Handelman Co. increased its holdings in Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Swiss National Bank grew its holdings in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares in the last quarter. Napa Wealth Management purchased a new stake in Amgen during the 3rd quarter valued at approximately $1,104,000. EP Wealth Advisors LLC grew its holdings 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 valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Finally, Second Half Financial Partners LLC purchased a new stake in Amgen during the 3rd quarter valued at approximately $3,413,000. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $289.00 on Thursday. The business’s 50 day moving average price is $318.08 and its 200 day moving average price is $318.22. The firm has a market cap of $155.35 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.68 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping 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 analyst estimates of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.51 earnings per share for the current 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 given a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $362.00 target price on shares of Amgen in a report on Thursday, September 26th. Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. TD Cowen raised their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

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.