Amgen Inc. (NASDAQ:AMGN) Shares Sold by Citizens Business Bank

Citizens Business Bank decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,247 shares of the medical research company’s stock after selling 330 shares during the period. Citizens Business Bank’s holdings in Amgen were worth $647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. FAS Wealth Partners Inc. acquired a new stake in shares of Amgen during the 3rd quarter worth $576,000. TriaGen Wealth Management LLC acquired a new stake in Amgen during the third quarter worth about $214,000. Sweet Financial Partners LLC lifted its stake in shares of Amgen by 1.8% in the 3rd quarter. Sweet Financial Partners LLC now owns 13,135 shares of the medical research company’s stock valued at $3,530,000 after purchasing an additional 235 shares in the last quarter. First Bancorp Inc ME purchased a new stake in shares of Amgen during the 3rd quarter worth about $204,000. Finally, Toews Corp ADV acquired a new stake in Amgen during the 3rd quarter worth approximately $779,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $2.44 during midday trading on Tuesday, hitting $273.94. The company’s stock had a trading volume of 2,476,256 shares, compared to its average volume of 2,816,730. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The firm’s fifty day moving average price is $274.96 and its 200-day moving average price is $281.45. The firm has a market cap of $146.94 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, sell-side analysts forecast that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 72.06%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Raymond James initiated coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. The Goldman Sachs Group upped their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $297.40.

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.