American National Bank & Trust Sells 491 Shares of Amgen Inc. (NASDAQ:AMGN)

American National Bank & Trust reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the third quarter, Holdings Channel.com reports. The fund owned 31,083 shares of the medical research company’s stock after selling 491 shares during the quarter. Amgen makes up 1.2% of American National Bank & Trust’s investment portfolio, making the stock its 28th biggest position. American National Bank & Trust’s holdings in Amgen were worth $10,015,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Grassi Investment Management bought a new position in shares of Amgen during the 1st quarter worth $2,283,000. Public Employees Retirement System of Ohio lifted its stake in Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after acquiring an additional 4,376 shares during the period. Meyer Handelman Co. lifted its stake in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Amgen by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after acquiring an additional 57 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new position in Amgen during the 4th quarter valued at about $803,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMGN. Morgan Stanley lowered their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a report on Thursday, September 26th. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Price Performance

NASDAQ AMGN opened at $319.73 on Thursday. The company has a market cap of $171.51 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 2.98 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock’s fifty day moving average price is $327.92 and its 200 day moving average price is $308.56. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the company posted $5.00 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

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.