Harbour Trust & Investment Management Co Increases Position in Amgen Inc. (NASDAQ:AMGN)

Harbour Trust & Investment Management Co grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,035 shares of the medical research company’s stock after purchasing an additional 57 shares during the period. Harbour Trust & Investment Management Co’s holdings in Amgen were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schmidt P J Investment Management Inc. lifted its stake in Amgen by 1.4% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,876 shares of the medical research company’s stock worth $927,000 after acquiring an additional 40 shares in the last quarter. Nicholson Wealth Management Group LLC purchased a new stake in Amgen during the third quarter worth about $1,226,000. Values First Advisors Inc. acquired a new stake in shares of Amgen during the third quarter worth about $100,000. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Amgen by 1.4% in the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,272 shares of the medical research company’s stock valued at $3,310,000 after purchasing an additional 138 shares during the period. Finally, DT Investment Partners LLC grew its holdings in shares of Amgen by 7.1% in the third quarter. DT Investment Partners LLC now owns 1,188 shares of the medical research company’s stock valued at $383,000 after purchasing an additional 79 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $315.69 on Friday. The firm’s fifty day simple moving average is $325.77 and its 200-day simple moving average is $313.12. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The stock has a market capitalization of $169.35 billion, a price-to-earnings ratio of 45.10, a PEG ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the previous year, the company posted $5.00 earnings per share. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and lifted their price target for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

Amgen Company 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.