Grove Bank & Trust Acquires 93 Shares of Amgen Inc. (NASDAQ:AMGN)

Grove Bank & Trust raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,750 shares of the medical research company’s stock after purchasing an additional 93 shares during the quarter. Grove Bank & Trust’s holdings in Amgen were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter valued at approximately $29,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter worth $30,000. Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen in the 3rd quarter worth about $56,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMGN shares. Sanford C. Bernstein started coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Barclays upped their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Finally, Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 1.0 %

Shares of Amgen stock opened at $272.11 on Monday. The stock has a market cap of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The firm has a fifty day moving average price of $273.95 and a 200 day moving average price of $307.20. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 earnings per share. Equities research analysts predict that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 115.24%.

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.