Harbour Trust & Investment Management Co Sells 108 Shares of Amgen Inc. (NASDAQ:AMGN)

Harbour Trust & Investment Management Co trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,927 shares of the medical research company’s stock after selling 108 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Amgen were worth $1,284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter worth approximately $29,000. Heck Capital Advisors LLC bought a new stake in Amgen in the fourth quarter valued at approximately $36,000. Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the third quarter valued at approximately $56,000. Finally, Icon Wealth Advisors LLC boosted its stake in shares of Amgen by 3,955.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after acquiring an additional 169,748 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Citigroup cut their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $313.23.

Amgen Trading Down 1.4 %

Shares of AMGN stock opened at $293.54 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $157.79 billion, a P/E ratio of 38.88, a P/E/G ratio of 3.01 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock’s fifty day simple moving average is $272.26 and its 200 day simple moving average is $303.00.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, sell-side analysts predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.24%. Amgen’s payout ratio is currently 119.21%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

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.