Berkshire Bank reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,517 shares of the medical research company’s stock after selling 61 shares during the quarter. Berkshire Bank’s holdings in Amgen were worth $337,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Tanglewood Legacy Advisors LLC purchased a new position in Amgen in the fourth quarter valued at about $26,000. Ruedi Wealth Management Inc. bought a new stake in Amgen in the fourth quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Amgen in the first quarter worth approximately $28,000. GW&K Investment Management LLC grew its position in Amgen by 200.0% in the fourth quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in Amgen in the fourth quarter worth approximately $33,000. 74.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on AMGN shares. Argus upped their price target on Amgen from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho upped their price target on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Truist Financial reiterated a “hold” rating and set a $260.00 price target on shares of Amgen in a research note on Tuesday, September 5th. Barclays decreased their price objective on shares of Amgen from $225.00 to $210.00 in a report on Tuesday, July 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Amgen in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $265.44.
Insider Buying and Selling
In related news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the completion of the transaction, the executive vice president now owns 44,308 shares in the company, valued at approximately $11,627,748.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by corporate insiders.
Amgen Price Performance
Shares of AMGN stock opened at $263.15 on Tuesday. The stock has a 50 day moving average of $248.12 and a two-hundred day moving average of $237.72. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $296.67. The company has a market capitalization of $140.76 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.28 and a beta of 0.61.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.56. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $4.65 EPS. As a group, equities analysts expect that Amgen Inc. will post 18.35 EPS for the current year.
Amgen Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were given a dividend of $2.13 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $8.52 annualized dividend and a dividend yield of 3.24%. Amgen’s dividend payout ratio (DPR) is presently 57.45%.
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.
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