Bangor Savings Bank Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Bangor Savings Bank lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,278 shares of the medical research company’s stock after acquiring an additional 66 shares during the quarter. Bangor Savings Bank’s holdings in Amgen were worth $1,636,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMGN. Insight Wealth Strategies LLC boosted its position in Amgen by 14.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 14,596 shares of the medical research company’s stock worth $3,804,000 after purchasing an additional 1,863 shares in the last quarter. Doliver Advisors LP grew its stake in Amgen by 1.1% in the 4th quarter. Doliver Advisors LP now owns 5,751 shares of the medical research company’s stock valued at $1,499,000 after acquiring an additional 65 shares during the period. Neville Rodie & Shaw Inc. increased its holdings in Amgen by 153.8% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 3,630 shares of the medical research company’s stock worth $946,000 after acquiring an additional 2,200 shares in the last quarter. CWA Asset Management Group LLC raised its position in Amgen by 16.2% during the fourth quarter. CWA Asset Management Group LLC now owns 6,198 shares of the medical research company’s stock worth $1,615,000 after acquiring an additional 863 shares during the period. Finally, Legacy Wealth Management LLC MS lifted its holdings in Amgen by 115.1% during the fourth quarter. Legacy Wealth Management LLC MS now owns 1,936 shares of the medical research company’s stock valued at $505,000 after purchasing an additional 1,036 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 1.0 %

NASDAQ:AMGN opened at $258.59 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock’s fifty day moving average is $283.46 and its two-hundred day moving average is $310.11. The stock has a market capitalization of $139.00 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business posted $4.96 EPS. Research analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is presently 121.90%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMGN. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 price target on shares of Amgen in a research report on Tuesday, October 22nd. Barclays raised their target price on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Bank of America reissued an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $318.83.

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.