Raymond James Trust N.A. Has $27.23 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Raymond James Trust N.A. raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 28.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 84,519 shares of the medical research company’s stock after purchasing an additional 18,921 shares during the quarter. Raymond James Trust N.A.’s holdings in Amgen were worth $27,233,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Keynote Financial Services LLC increased its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc raised its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares in the last quarter. Cadinha & Co. LLC lifted its holdings in shares of Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after acquiring an additional 32 shares during the last quarter. Finally, Lansing Street Advisors grew its position in Amgen by 1.3% in the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price target on shares of Amgen in a research report on Thursday, September 26th. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and increased their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Price Performance

AMGN stock opened at $289.77 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1 year low of $260.68 and a 1 year high of $346.85. The firm has a 50-day moving average of $317.28 and a 200 day moving average of $318.02. The company has a market cap of $155.76 billion, a P/E ratio of 37.10, a PEG ratio of 2.50 and a beta of 0.60.

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

About Amgen

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.