Massmutual Trust Co. FSB ADV Sells 452 Shares of Amgen Inc. (NASDAQ:AMGN)

Massmutual Trust Co. FSB ADV cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.1% during the 3rd quarter, Holdings Channel reports. The fund owned 6,901 shares of the medical research company’s stock after selling 452 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Amgen were worth $2,224,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Strategic Financial Concepts LLC bought a new position in Amgen in the second quarter worth approximately $26,000. Horizon Financial Services LLC bought a new position in shares of Amgen during the first quarter valued at about $28,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter worth about $30,000. nVerses Capital LLC bought a new stake in Amgen in the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Argus raised their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $325.55.

Amgen Price Performance

Shares of AMGN stock opened at $317.48 on Friday. The business’s fifty day moving average is $327.58 and its 200 day moving average is $308.62. 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 stock has a market cap of $170.31 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.98 and a beta of 0.61. Amgen Inc. has a twelve month low of $249.70 and a twelve month 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 return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company posted $5.00 EPS. Amgen’s revenue for the quarter was up 20.1% compared to the same quarter last year. Research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) 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.