Community Trust & Investment Co. lifted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,772 shares of the medical research company’s stock after purchasing an additional 550 shares during the quarter. Community Trust & Investment Co.’s holdings in Amgen were worth $3,058,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of AMGN. Tanglewood Legacy Advisors LLC acquired a new position in shares of Amgen in the fourth quarter valued at $26,000. Ruedi Wealth Management Inc. acquired a new position in shares of Amgen in the fourth quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Amgen in the first quarter valued at $28,000. GW&K Investment Management LLC raised its stake in shares of Amgen by 200.0% in the fourth quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 80 shares in the last quarter. Finally, General Partner Inc. acquired a new position in Amgen during the first quarter worth $32,000. 74.44% of the stock is currently owned by institutional investors and hedge funds.
Amgen Stock Up 0.1 %
Shares of NASDAQ:AMGN traded up $0.15 during trading on Tuesday, hitting $263.30. 458,133 shares of the company’s stock traded hands, compared to its average volume of 2,447,841. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $296.67. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. The company has a market cap of $140.84 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 3.28 and a beta of 0.61. The company has a 50-day moving average price of $248.12 and a 200-day moving average price of $237.72.
Amgen Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were paid a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Thursday, August 17th. Amgen’s dividend payout ratio is currently 57.45%.
Analyst Ratings Changes
Several research analysts have issued reports on AMGN shares. Mizuho increased their price objective on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Royal Bank of Canada increased their price objective on Amgen from $250.00 to $253.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Credit Suisse Group dropped their price objective on Amgen from $220.00 to $200.00 in a research note on Wednesday, July 12th. HSBC assumed coverage on Amgen in a research note on Wednesday, September 6th. They set a “buy” rating and a $320.00 price objective for the company. Finally, Barclays decreased their target price on Amgen from $225.00 to $210.00 in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $265.44.
Insider Transactions at Amgen
In other news, EVP Murdo Gordon sold 9,558 shares of the company’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 sale, the executive vice president now owns 44,308 shares in the company, valued at approximately $11,627,748.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.57% 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.
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