Argent Trust Co Increases Stake in Amgen, Inc. (NASDAQ:AMGN)

Argent Trust Co grew its position in Amgen, Inc. (NASDAQ:AMGN) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,091 shares of the medical research company’s stock after buying an additional 444 shares during the period. Argent Trust Co’s holdings in Amgen were worth $2,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Wealth Quarterback LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $3,116,210,000. Norges Bank bought a new position in Amgen during the 4th quarter valued at about $1,515,191,000. Capital Research Global Investors boosted its holdings in shares of Amgen by 5.2% during the 4th quarter. Capital Research Global Investors now owns 35,337,639 shares of the medical research company’s stock valued at $8,518,844,000 after acquiring an additional 1,743,084 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Amgen by 309.4% during the 1st quarter. American International Group Inc. now owns 1,148,747 shares of the medical research company’s stock valued at $232,885,000 after acquiring an additional 868,178 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Amgen by 21.9% in the first quarter. Swiss National Bank now owns 2,306,118 shares of the medical research company’s stock worth $467,519,000 after acquiring an additional 415,000 shares during the period. Hedge funds and other institutional investors own 76.41% of the company’s stock.

In other Amgen news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $237.31, for a total value of $100,856.75. Following the sale, the director now directly owns 5,834 shares in the company, valued at approximately $1,384,466.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $233.35, for a total transaction of $233,350.00. Following the completion of the sale, the director now owns 15,636 shares in the company, valued at approximately $3,648,660.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,425 shares of company stock worth $563,477. Company insiders own 0.25% of the company’s stock.

NASDAQ:AMGN traded up $1.65 on Friday, reaching $226.43. 2,305,494 shares of the company’s stock traded hands, compared to its average volume of 2,887,619. The company has a quick ratio of 1.28, a current ratio of 1.59 and a debt-to-equity ratio of 3.16. The stock has a 50-day simple moving average of $228.36 and a 200-day simple moving average of $225.14. The firm has a market cap of $132.23 billion, a PE ratio of 17.75, a P/E/G ratio of 1.92 and a beta of 0.97. Amgen, Inc. has a 12 month low of $166.68 and a 12 month high of $244.99.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.47. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.01 billion. Amgen had a return on equity of 90.75% and a net margin of 32.03%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.56 earnings per share. On average, equities analysts anticipate that Amgen, Inc. will post 15.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Monday, May 18th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s dividend payout ratio (DPR) is currently 43.18%.

AMGN has been the topic of several research reports. Robert W. Baird cut shares of Amgen from a “neutral” rating to an “underperform” rating and raised their target price for the stock from $173.00 to $185.00 in a report on Friday, January 31st. Argus reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Amgen in a report on Thursday, February 6th. Wells Fargo & Co upped their price objective on Amgen from $220.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Bank of America raised their target price on Amgen from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Raymond James upgraded Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 price target for the company in a research note on Sunday, March 29th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $244.65.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: The limitations of an equal weight rating

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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