Home Federal Bank of Tennessee Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Home Federal Bank of Tennessee lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,598 shares of the medical research company’s stock after purchasing an additional 101 shares during the period. Home Federal Bank of Tennessee’s holdings in Amgen were worth $837,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMGN. Capital International Investors boosted its stake 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 valued at $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Amgen by 6.2% during 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 acquiring an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC raised its position in Amgen by 137.1% in 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 purchasing an additional 1,377,007 shares during the last quarter. Capital Wealth Planning LLC grew its position in Amgen by 28,684.1% during the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Finally, Granite Bay Wealth Management LLC increased its stake in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMGN shares. Cantor Fitzgerald initiated coverage on Amgen in a research report on Friday, September 27th. They issued an “overweight” rating and a $405.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley reduced their target price 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, Bank of America upped 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Performance

Shares of Amgen stock traded down $1.47 on Tuesday, reaching $315.27. 155,001 shares of the company were exchanged, compared to its average volume of 2,432,252. The firm has a market cap of $169.12 billion, a price-to-earnings ratio of 45.25, a P/E/G ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The company’s 50-day moving average is $326.00 and its two-hundred day moving average is $312.76.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during 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%. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.00 earnings per share. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 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.