Community Bank N.A. Has $4.13 Million Position in Amgen Inc. (NASDAQ:AMGN)

Community Bank N.A. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,339 shares of the medical research company’s stock after selling 400 shares during the quarter. Community Bank N.A.’s holdings in Amgen were worth $4,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after acquiring an additional 165,636 shares during the last quarter. Northern Trust Corp increased its position in Amgen by 3.8% during the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after buying an additional 255,463 shares during the last quarter. Bank of New York Mellon Corp increased its position in Amgen by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 5,437,182 shares of the medical research company’s stock worth $1,461,297,000 after buying an additional 61,528 shares during the last quarter. Royal Bank of Canada increased its position in Amgen by 11.4% during the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after buying an additional 518,689 shares during the last quarter. Finally, Invesco Ltd. increased its position in Amgen by 15.9% during the third quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock worth $902,055,000 after buying an additional 459,340 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $0.53 during mid-day trading on Wednesday, hitting $273.01. The company had a trading volume of 2,466,582 shares, compared to its average volume of 2,840,533. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The business’s 50-day simple moving average is $275.77 and its 200-day simple moving average is $281.55. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The firm has a market cap of $146.44 billion, a P/E ratio of 21.86, a PEG ratio of 2.53 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, analysts predict that Amgen Inc. will post 19.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMGN shares. UBS Group lowered their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. TD Cowen lowered their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Thursday, March 28th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. Finally, SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $296.95.

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.