Amgen Inc. (NASDAQ:AMGN) is Somerset Trust Co’s 8th Largest Position

Somerset Trust Co trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,562 shares of the medical research company’s stock after selling 113 shares during the quarter. Amgen accounts for 2.2% of Somerset Trust Co’s portfolio, making the stock its 8th largest position. Somerset Trust Co’s holdings in Amgen were worth $5,981,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Keynote Financial Services LLC lifted its position in Amgen by 0.6% during the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC lifted its position in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after buying an additional 31 shares in the last quarter. RFP Financial Group LLC lifted its position in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc lifted its position in Amgen by 0.5% during the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after buying an additional 32 shares in the last quarter. Finally, Blossom Wealth Management lifted its position in Amgen by 3.3% during the 2nd quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock worth $320,000 after buying an additional 33 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Cantor Fitzgerald initiated coverage on Amgen in a report on Friday, September 27th. They set an “overweight” rating and a $405.00 price objective for the company. Morgan Stanley dropped 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. Finally, TD Cowen boosted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.30.

Amgen Trading Up 1.5 %

NASDAQ:AMGN opened at $322.41 on Thursday. 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 business has a 50 day moving average price of $326.66 and a two-hundred day moving average price of $310.06. The company has a market cap of $172.95 billion, a P/E ratio of 46.06, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company earned $5.00 EPS. As a group, analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s payout ratio is presently 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.