Somerset Trust Co Has $4.25 Million Position in Amgen Inc. (NASDAQ:AMGN)

Somerset Trust Co lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,152 shares of the medical research company’s stock after selling 618 shares during the period. Amgen comprises 1.8% of Somerset Trust Co’s portfolio, making the stock its 17th largest holding. Somerset Trust Co’s holdings in Amgen were worth $4,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Platform Technology Partners increased its stake in shares of Amgen by 0.8% in the 1st quarter. Platform Technology Partners now owns 5,315 shares of the medical research company’s stock valued at $1,285,000 after acquiring an additional 41 shares during the last quarter. Apeiron RIA LLC increased its stake in Amgen by 2.3% during the 1st quarter. Apeiron RIA LLC now owns 1,842 shares of the medical research company’s stock worth $446,000 after purchasing an additional 42 shares in the last quarter. All Terrain Financial Advisors LLC increased its stake in Amgen by 0.8% during the 1st quarter. All Terrain Financial Advisors LLC now owns 5,646 shares of the medical research company’s stock worth $1,365,000 after purchasing an additional 44 shares in the last quarter. LifeSteps Financial Inc. increased its stake in Amgen by 3.4% during the 1st quarter. LifeSteps Financial Inc. now owns 1,373 shares of the medical research company’s stock worth $332,000 after purchasing an additional 45 shares in the last quarter. Finally, First United Bank & Trust increased its stake in Amgen by 0.7% during the 1st quarter. First United Bank & Trust now owns 6,345 shares of the medical research company’s stock worth $1,534,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.

Amgen Stock Up 0.1 %

AMGN opened at $262.63 on Friday. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $296.67. The company has a debt-to-equity ratio of 8.76, a quick ratio of 2.48 and a current ratio of 2.77. The company has a market capitalization of $140.48 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.23 and a beta of 0.61. The stock has a fifty day moving average of $246.49 and a 200-day moving average of $237.31.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $2.13 dividend. This represents a $8.52 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Thursday, August 17th. Amgen’s dividend payout ratio (DPR) is presently 57.45%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMGN. Jefferies Financial Group upped their price target on Amgen from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Barclays reduced their price target on Amgen from $225.00 to $210.00 in a research report on Tuesday, July 11th. Argus reduced their price target on Amgen from $270.00 to $260.00 in a research report on Monday, June 26th. Truist Financial reaffirmed a “hold” rating and set a $260.00 price target on shares of Amgen in a research report on Tuesday, September 5th. Finally, HSBC began coverage on Amgen in a research report on Wednesday, September 6th. They set a “buy” rating and a $320.00 price target for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $264.19.

Insider Activity at Amgen

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

Amgen 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.