Glenview Trust Co grew its position in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 0.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,219 shares of the medical research company’s stock after purchasing an additional 58 shares during the period. Glenview Trust Co’s holdings in Amgen were worth $2,078,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in AMGN. EdgeRock Capital LLC acquired a new stake in shares of Amgen in the third quarter valued at $25,000. Capital Wealth Alliance LLC acquired a new stake in shares of Amgen in the second quarter valued at $26,000. Coston McIsaac & Partners acquired a new stake in shares of Amgen in the second quarter valued at $27,000. Heritage Wealth Management LLC acquired a new stake in shares of Amgen in the second quarter valued at $28,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Amgen by 420.0% in the second quarter. Blue Bell Private Wealth Management LLC now owns 130 shares of the medical research company’s stock valued at $32,000 after buying an additional 105 shares during the last quarter. 75.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Nancy A. Grygiel sold 545 shares of Amgen stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $293.54, for a total transaction of $159,979.30. Following the completion of the sale, the senior vice president now directly owns 13,009 shares in the company, valued at approximately $3,818,661.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company’s stock.
Amgen Price Performance
Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The medical research company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.27. The firm had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.56 billion. Amgen had a net margin of 25.96% and a return on equity of 287.23%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.67 earnings per share. Research analysts predict that Amgen Inc. will post 17.62 earnings per share for the current year.
Amgen Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Investors of record on Wednesday, February 15th will be given a $2.13 dividend. The ex-dividend date is Tuesday, February 14th. This represents a $8.52 dividend on an annualized basis and a yield of 3.28%. This is an increase from Amgen’s previous quarterly dividend of $1.94. Amgen’s dividend payout ratio (DPR) is presently 62.23%.
Analyst Upgrades and Downgrades
Several research firms recently commented on AMGN. Piper Sandler dropped their target price on Amgen from $299.00 to $293.00 and set an “overweight” rating on the stock in a report on Thursday, January 19th. Wells Fargo & Company raised their price objective on Amgen from $250.00 to $285.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 3rd. Truist Financial raised their price objective on Amgen from $266.00 to $280.00 and gave the stock a “hold” rating in a report on Tuesday, November 8th. SVB Leerink raised their price objective on Amgen from $256.00 to $282.00 and gave the stock a “market perform” rating in a report on Thursday, December 22nd. Finally, StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 17th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $253.57.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.
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