Arden Trust Co Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Arden Trust Co increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,587 shares of the medical research company’s stock after buying an additional 768 shares during the period. Arden Trust Co’s holdings in Amgen were worth $2,437,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of Amgen by 87.9% in the 2nd quarter. Nordea Investment Management AB now owns 8,358,990 shares of the medical research company’s stock valued at $1,942,796,000 after acquiring an additional 3,911,383 shares during the last quarter. Clearbridge Investments LLC increased its stake in Amgen by 151.2% during the first quarter. Clearbridge Investments LLC now owns 4,118,757 shares of the medical research company’s stock valued at $834,996,000 after purchasing an additional 2,478,922 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Amgen by 4.9% during the second quarter. BlackRock Inc. now owns 48,729,584 shares of the medical research company’s stock worth $11,493,360,000 after purchasing an additional 2,267,217 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of Amgen in the 1st quarter worth about $38,885,000. Finally, Capital International Investors boosted its holdings in shares of Amgen by 19.6% in the 1st quarter. Capital International Investors now owns 5,700,387 shares of the medical research company’s stock valued at $1,155,642,000 after buying an additional 933,191 shares during the period. 75.23% of the stock is owned by institutional investors.

In other news, Director R Sanders Williams sold 250 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the sale, the director now owns 5,159 shares in the company, valued at $1,253,379.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $259.79, for a total value of $259,790.00. Following the completion of the sale, the director now directly owns 16,589 shares of the company’s stock, valued at approximately $4,309,656.31. The disclosure for this sale can be found here. Insiders have sold 2,250 shares of company stock worth $561,548 in the last 90 days. 0.36% of the stock is owned by company insiders.

Several brokerages recently issued reports on AMGN. Jefferies Financial Group raised their price target on Amgen from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. ValuEngine downgraded Amgen from a “hold” rating to a “sell” rating in a research note on Thursday, October 8th. Royal Bank of Canada reissued a “hold” rating and issued a $223.00 price target on shares of Amgen in a research note on Thursday. Piper Sandler lifted their price objective on shares of Amgen from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Finally, Oppenheimer upped their price objective on shares of Amgen from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Tuesday, October 6th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have assigned a buy rating to the company. Amgen presently has an average rating of “Hold” and an average price target of $255.08.

Shares of NASDAQ AMGN opened at $235.72 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 3.20. Amgen Inc. has a 12 month low of $177.05 and a 12 month high of $264.97. The company has a market cap of $138.06 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.11 and a beta of 0.81. The business has a fifty day simple moving average of $246.43 and a 200-day simple moving average of $237.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company earned $3.97 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 15.66 EPS for the current fiscal year.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. 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; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

See Also: Retained Earnings

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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