First National Trust Co Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

First National Trust Co decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,328 shares of the medical research company’s stock after selling 1,317 shares during the quarter. First National Trust Co’s holdings in Amgen were worth $13,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. International Assets Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at about $4,589,900,000. Assenagon Asset Management S.A. increased its position in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares in the last quarter. abrdn plc increased its position in Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Amgen by 111.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock worth $284,869,000 after purchasing an additional 522,367 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Amgen by 11.4% during the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after purchasing an additional 518,689 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMGN. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $230.00 to $300.00 in a report on Friday. Royal Bank of Canada decreased their price target on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets increased their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $305.05.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded up $32.90 during trading hours on Friday, hitting $311.29. The company had a trading volume of 9,644,682 shares, compared to its average volume of 2,279,398. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The business has a fifty day simple moving average of $274.95 and a 200-day simple moving average of $281.50. The firm has a market cap of $166.97 billion, a P/E ratio of 44.47, a price-to-earnings-growth ratio of 3.01 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 145.62%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the prior year, the firm posted $3.98 EPS. Amgen’s revenue was up 22.0% compared to the same quarter last year. Equities analysts predict that Amgen Inc. will post 19.46 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 given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.