Bank of Hawaii Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Bank of Hawaii reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 13.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909 shares of the medical research company’s stock after selling 147 shares during the period. Bank of Hawaii’s holdings in Amgen were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC increased its holdings in Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC increased its stake in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC raised its holdings in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after acquiring an additional 748,200 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Amgen in the first quarter worth about $151,977,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $294.00 on Tuesday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a 50-day moving average of $315.69 and a two-hundred day moving average of $318.05. The stock has a market cap of $158.03 billion, a P/E ratio of 37.64, a P/E/G ratio of 2.63 and a beta of 0.60. Amgen Inc. has a one year low of $260.68 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is currently 115.24%.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Finally, Citigroup assumed coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.