First Financial Bank Trust Division Sells 503 Shares of Amgen Inc. (NASDAQ:AMGN)

First Financial Bank Trust Division reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 41.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 712 shares of the medical research company’s stock after selling 503 shares during the quarter. First Financial Bank Trust Division’s holdings in Amgen were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AMGN. Provence Wealth Management Group grew its holdings in Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after buying an additional 154 shares in the last quarter. Kinsale Capital Group Inc. boosted its holdings in Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares during the period. Global Wealth Management Investment Advisory Inc. grew its position in shares of Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after purchasing an additional 109 shares in the last quarter. Valley Brook Capital Group Inc. increased its holdings in shares of Amgen by 7.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock worth $1,362,000 after purchasing an additional 310 shares during the period. Finally, Evergreen Wealth Management LLC raised its position in shares of Amgen by 1.7% in the fourth quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock valued at $1,409,000 after buying an additional 84 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 2.6 %

NASDAQ AMGN traded down $8.77 on Monday, hitting $325.22. The company’s stock had a trading volume of 2,974,785 shares, compared to its average volume of 2,639,803. The company’s 50-day moving average is $316.30 and its 200 day moving average is $298.26. The firm has a market cap of $174.46 billion, a PE ratio of 46.46, a PEG ratio of 2.78 and a beta of 0.58. Amgen Inc. has a 1-year low of $243.46 and a 1-year high of $346.85. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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

Amgen Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. Royal Bank of Canada increased their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Morgan Stanley dropped their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. TD Cowen reduced their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.63.

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.