Amgen Inc. (NASDAQ:AMGN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,039,720 shares of the medical research company’s stock after selling 28,346 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Amgen were worth $335,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Keynote Financial Services LLC lifted its stake in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the period. Ascent Group LLC raised its holdings in Amgen by 0.3% in the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after acquiring an additional 31 shares in the last quarter. Hofer & Associates. Inc lifted its position in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock worth $2,024,000 after acquiring an additional 32 shares during the period. Cadinha & Co. LLC grew its holdings in shares of Amgen by 0.6% during the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 32 shares in the last quarter. Finally, Lansing Street Advisors increased its position in shares of Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMGN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

Amgen Price Performance

AMGN opened at $278.76 on Tuesday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market capitalization of $149.84 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. The company’s 50 day simple moving average is $319.90 and its 200-day simple moving average is $318.65. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. Sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.