Burke & Herbert Bank & Trust Co. Buys New Shares in Amgen Inc. (NASDAQ:AMGN)

Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,287 shares of the medical research company’s stock, valued at approximately $402,000.

A number of other hedge funds have also recently bought and sold shares of the stock. BIP Wealth LLC grew its position in shares of Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after acquiring an additional 32 shares during the period. RFP Financial Group LLC increased its position in Amgen by 17.1% in the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares during the last quarter. Marino Stram & Associates LLC raised its stake in shares of Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after buying an additional 34 shares during the period. NTV Asset Management LLC raised its stake in shares of Amgen by 0.3% in the first quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock valued at $3,116,000 after buying an additional 34 shares during the period. Finally, Texas Yale Capital Corp. grew its stake in shares of Amgen by 0.3% during the 1st quarter. Texas Yale Capital Corp. now owns 10,097 shares of the medical research company’s stock worth $2,871,000 after acquiring an additional 34 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $323.45 on Wednesday. Amgen Inc. has a 52-week low of $248.38 and a 52-week high of $346.85. The company has a fifty day moving average of $318.96 and a 200-day moving average of $298.94. The company has a market capitalization of $173.51 billion, a P/E ratio of 46.21, a P/E/G ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. BMO Capital Markets raised their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

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.