Amgen Inc. (NASDAQ:AMGN) Position Raised by Somerset Trust Co

Somerset Trust Co lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,423 shares of the medical research company’s stock after buying an additional 1,240 shares during the period. Amgen makes up 2.3% of Somerset Trust Co’s portfolio, making the stock its 8th biggest position. Somerset Trust Co’s holdings in Amgen were worth $6,363,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Beck Mack & Oliver LLC boosted its position in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after buying an additional 34 shares during the last quarter. Continuum Advisory LLC lifted its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the period. Blossom Wealth Management boosted its holdings in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after acquiring an additional 37 shares during the last quarter. Zullo Investment Group Inc. boosted its holdings in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares during the last quarter. Finally, Trillium Asset Management LLC raised its stake in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMGN shares. Piper Sandler decreased their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Finally, Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.22.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $287.02 on Friday. The firm has a market cap of $154.33 billion, a PE ratio of 38.02, a PEG ratio of 2.63 and a beta of 0.51. The firm has a fifty day moving average of $283.46 and a 200 day moving average of $285.42. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 86.86%.

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.