Stock Yards Bank & Trust Co. Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,698 shares of the medical research company’s stock after selling 1,183 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Amgen were worth $6,155,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC bought a new stake in shares of Amgen in the second quarter worth about $26,000. Horizon Financial Services LLC bought a new stake in shares of Amgen during the first quarter valued at approximately $28,000. United Community Bank purchased a new stake in shares of Amgen in the 4th quarter worth about $29,000. nVerses Capital LLC purchased a new stake in Amgen in the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen in the 2nd quarter worth approximately $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen upped their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $335.26 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The firm has a fifty day simple moving average of $328.66 and a two-hundred day simple moving average of $304.44. The stock has a market capitalization of $179.85 billion, a P/E ratio of 47.89, a PEG ratio of 2.93 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $5.00 earnings per share. On average, analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.