Amgen Inc. (NASDAQ:AMGN) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,622 shares of the medical research company’s stock after selling 6,375 shares during the quarter. Philadelphia Trust Co.’s holdings in Amgen were worth $9,229,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter worth $26,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth $36,000. South Plains Financial Inc. bought a new stake in shares of Amgen during the 4th quarter worth $37,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company’s stock worth $42,000 after acquiring an additional 125 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, UBS Group cut their price objective on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $303.76.

Amgen Stock Up 2.1%

NASDAQ AMGN opened at $296.47 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock’s 50 day moving average is $293.30 and its two-hundred day moving average is $292.96. The company has a market capitalization of $159.61 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.50 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.97 earnings per share. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Amgen 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.