Amgen Inc. (NASDAQ:AMGN) Shares Sold by Greenfield Savings Bank

Greenfield Savings Bank lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,672 shares of the medical research company’s stock after selling 204 shares during the quarter. Greenfield Savings Bank’s holdings in Amgen were worth $815,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tanglewood Legacy Advisors LLC acquired a new position in Amgen in the 4th quarter worth approximately $26,000. Ruedi Wealth Management Inc. acquired a new position in Amgen in the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Amgen in the 1st quarter worth approximately $28,000. GW&K Investment Management LLC increased its holdings in Amgen by 200.0% in the 4th quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock worth $32,000 after buying an additional 80 shares during the period. Finally, AXS Investments LLC acquired a new position in Amgen in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 74.44% of the company’s stock.

Amgen Trading Up 2.0 %

Shares of NASDAQ:AMGN opened at $262.30 on Friday. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $296.67. The firm has a market capitalization of $140.30 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 3.23 and a beta of 0.61. The company has a debt-to-equity ratio of 8.76, a current ratio of 2.77 and a quick ratio of 2.48. The business’s 50 day moving average price is $246.49 and its 200-day moving average price is $237.31.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.56. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a dividend of $2.13 per share. The ex-dividend date was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.25%. Amgen’s payout ratio is 57.45%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMGN shares. HSBC started coverage on shares of Amgen in a report on Wednesday, September 6th. They issued a “buy” rating and a $320.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $280.00 price objective on shares of Amgen in a research report on Tuesday, July 25th. Credit Suisse Group lowered their price objective on Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Mizuho upped their price objective on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a research report on Monday, August 14th. Finally, Barclays lowered their price objective on Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $264.19.

Insider Activity

In related news, EVP Murdo Gordon sold 9,558 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $262.43, for a total value of $2,508,305.94. Following the sale, the executive vice president now directly owns 44,308 shares in the company, valued at approximately $11,627,748.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.