Zions Bancorporation N.A. Sells 6,481 Shares of Amgen Inc. (NASDAQ:AMGN)

Zions Bancorporation N.A. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 28.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,346 shares of the medical research company’s stock after selling 6,481 shares during the period. Zions Bancorporation N.A.’s holdings in Amgen were worth $5,267,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Amgen by 62.0% during the 3rd quarter. KBC Group NV now owns 231,379 shares of the medical research company’s stock valued at $74,553,000 after buying an additional 88,554 shares in the last quarter. Plato Investment Management Ltd grew its position in Amgen by 4.1% during the third quarter. Plato Investment Management Ltd now owns 18,708 shares of the medical research company’s stock valued at $6,022,000 after acquiring an additional 735 shares during the last quarter. Schrum Private Wealth Management LLC raised its stake in shares of Amgen by 41.6% during the third quarter. Schrum Private Wealth Management LLC now owns 1,260 shares of the medical research company’s stock worth $406,000 after acquiring an additional 370 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Amgen by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 7,014 shares of the medical research company’s stock worth $2,260,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its holdings in shares of Amgen by 0.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 57,954 shares of the medical research company’s stock worth $18,673,000 after acquiring an additional 532 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.9 %

NASDAQ AMGN opened at $301.44 on Thursday. The stock’s 50 day moving average is $322.15 and its 200 day moving average is $318.15. The firm has a market capitalization of $162.03 billion, a PE ratio of 38.60, a P/E/G ratio of 2.67 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the company earned $4.96 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. Research analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. TD Cowen boosted their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and raised their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $333.57.

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.