Cambridge Trust Co. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cambridge Trust Co. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 11.9% during the fourth quarter, Holdings Channel reports. The firm owned 3,770 shares of the medical research company’s stock after selling 511 shares during the quarter. Cambridge Trust Co.’s holdings in Amgen were worth $1,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Amgen during the 3rd quarter valued at $26,000. Briaud Financial Planning Inc bought a new stake in Amgen during the 3rd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Amgen during the 1st quarter worth approximately $28,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the 4th quarter worth approximately $29,000. Finally, Providence Capital Advisors LLC bought a new position in shares of Amgen in the 3rd quarter worth approximately $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.5 %

Amgen stock opened at $262.75 on Friday. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The business’s fifty day moving average is $277.34 and its 200 day moving average is $281.24. The stock has a market capitalization of $140.81 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.43%. Amgen’s payout ratio is 72.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMGN shares. The Goldman Sachs Group upped their price target on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. UBS Group decreased their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Finally, Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.95.

About Amgen

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.