Amgen Inc. (NASDAQ:AMGN) Position Cut by Cambridge Trust Co.

Cambridge Trust Co. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,427 shares of the medical research company’s stock after selling 343 shares during the quarter. Cambridge Trust Co.’s holdings in Amgen were worth $974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Capital International Investors lifted its position in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Norges Bank acquired a new stake in Amgen in the fourth quarter worth approximately $1,556,912,000. Vanguard Group Inc. lifted its position in Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter valued at $4,589,900,000. Finally, Janus Henderson Group PLC lifted its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.54 during mid-day trading on Friday, hitting $333.99. The company had a trading volume of 2,106,216 shares, compared to its average volume of 1,890,833. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business’s 50-day simple moving average is $316.30 and its 200-day simple moving average is $298.33. Amgen Inc. has a 12 month low of $228.21 and a 12 month high of $346.85. The firm has a market cap of $179.16 billion, a P/E ratio of 47.71, a PEG ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, August 16th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $230.00 to $300.00 in a report on Friday, May 3rd. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets increased their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

About Amgen

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.