Amgen Inc. (NASDAQ:AMGN) Stake Lessened by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 19.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050 shares of the medical research company’s stock after selling 250 shares during the period. Nixon Peabody Trust Co.’s holdings in Amgen were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Semus Wealth Partners LLC raised its position in Amgen by 2.3% in the third quarter. Semus Wealth Partners LLC now owns 1,531 shares of the medical research company’s stock worth $493,000 after acquiring an additional 35 shares in the last quarter. Napa Wealth Management purchased a new position in Amgen in the 3rd quarter worth about $1,104,000. Cassaday & Co Wealth Management LLC raised its holdings in Amgen by 2.6% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 3,832 shares of the medical research company’s stock worth $1,235,000 after buying an additional 98 shares during the period. Mendel Capital Management LLC lifted its stake in Amgen by 1.0% during the third quarter. Mendel Capital Management LLC now owns 4,602 shares of the medical research company’s stock valued at $1,483,000 after buying an additional 45 shares in the last quarter. Finally, Braun Stacey Associates Inc. boosted its holdings in shares of Amgen by 3.0% in the third quarter. Braun Stacey Associates Inc. now owns 54,177 shares of the medical research company’s stock worth $17,456,000 after buying an additional 1,561 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN stock traded down $5.50 during trading on Monday, reaching $278.11. 319,346 shares of the stock were exchanged, compared to its average volume of 2,444,224. The stock has a 50 day simple moving average of $320.85 and a 200-day simple moving average of $318.65. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a market capitalization of $149.49 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Citigroup started coverage on Amgen in a research report on Thursday. They set a “neutral” rating and a $335.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.