Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Eastern Bank

Eastern Bank increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 285.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,354 shares of the medical research company’s stock after acquiring an additional 5,447 shares during the period. Eastern Bank’s holdings in Amgen were worth $2,370,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new position in Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new position in Amgen during the 2nd quarter worth about $33,000. Matrix Trust Co acquired a new position in Amgen during the 3rd quarter worth about $36,000. Finally, FSA Wealth Management LLC lifted its stake in Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Finally, Barclays increased their price target on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Up 0.9 %

AMGN opened at $319.66 on Wednesday. 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 business has a 50 day simple moving average of $325.93 and a 200-day simple moving average of $313.11. The stock has a market capitalization of $171.48 billion, a P/E ratio of 45.67, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned $5.00 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.49 earnings per share 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 issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. Amgen’s dividend payout ratio is currently 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.