Fiduciary Trust Co Has $13.53 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Fiduciary Trust Co lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 51,890 shares of the medical research company’s stock after selling 1,405 shares during the period. Fiduciary Trust Co’s holdings in Amgen were worth $13,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares during the period. Watts Gwilliam & Co. LLC boosted its stake in Amgen by 0.7% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 17,651 shares of the medical research company’s stock worth $4,626,000 after buying an additional 128 shares in the last quarter. ORG Partners LLC increased its holdings in Amgen by 0.5% in the 4th quarter. ORG Partners LLC now owns 8,975 shares of the medical research company’s stock valued at $2,345,000 after buying an additional 41 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Amgen by 54.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 504,280 shares of the medical research company’s stock valued at $131,436,000 after buying an additional 178,304 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Amgen by 5.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 82,348 shares of the medical research company’s stock worth $21,463,000 after acquiring an additional 4,042 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,707 shares of company stock worth $12,819,342 over the last ninety days. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMGN shares. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald started coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, May 2nd. Finally, Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $310.23.

Amgen Price Performance

NASDAQ AMGN opened at $272.05 on Friday. The stock has a market cap of $146.27 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business has a 50 day simple moving average of $297.00 and a 200 day simple moving average of $290.23.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. Amgen’s dividend payout ratio is currently 86.86%.

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.