First County Bank CT Sells 498 Shares of Amgen Inc. (NASDAQ:AMGN)

First County Bank CT lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,406 shares of the medical research company’s stock after selling 498 shares during the period. Amgen accounts for about 1.2% of First County Bank CT’s portfolio, making the stock its 19th biggest position. First County Bank CT’s holdings in Amgen were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Keynote Financial Services LLC lifted its holdings in Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the period. RFP Financial Group LLC increased its stake in shares of Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after acquiring an additional 32 shares in the last quarter. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after acquiring an additional 32 shares during the period. Blossom Wealth Management boosted its stake in Amgen by 3.3% during the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after acquiring an additional 33 shares in the last quarter. Finally, Legacy Capital Group California Inc. grew its holdings in Amgen by 1.1% in the second quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock worth $955,000 after purchasing an additional 33 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $319.10 on Friday. The firm has a 50-day moving average price of $328.94 and a 200-day moving average price of $307.00. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $171.18 billion, a price-to-earnings ratio of 45.59, a PEG ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.00 earnings per share. Equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMGN. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley cut their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 price target on shares of Amgen in a report on Thursday. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday. Finally, Bank of America boosted their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $321.37.

Amgen 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.