Farmers Trust Co. Has $684,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Farmers Trust Co. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,124 shares of the medical research company’s stock after selling 53 shares during the period. Farmers Trust Co.’s holdings in Amgen were worth $684,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC bought a new stake in Amgen in the first quarter worth about $28,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter valued at approximately $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $317.48 on Friday. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market cap of $170.31 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. The company’s fifty day moving average price is $327.58 and its 200-day moving average price is $308.62.

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

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMGN. Robert W. Baird reissued an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Bank of America raised their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Cantor Fitzgerald assumed coverage on Amgen in a research report on Friday, September 27th. They set an “overweight” rating and a $405.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $325.55.

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.