United Community Bank Invests $29,000 in Amgen Inc. (NASDAQ:AMGN)

United Community Bank acquired a new position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 100 shares of the medical research company’s stock, valued at approximately $29,000.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. BOK Financial Private Wealth Inc. bought a new position in Amgen during the 4th quarter valued at about $29,000. Providence Capital Advisors LLC bought a new position in shares of Amgen in the third quarter worth about $30,000. Planned Solutions Inc. bought a new position in shares of Amgen in the fourth quarter worth about $30,000. Delos Wealth Advisors LLC raised its stake in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Amgen by 56.9% in the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after acquiring an additional 41 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMGN shares. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. UBS Group lifted their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $305.65.

Read Our Latest Stock Report on AMGN

Amgen Stock Up 1.6 %

Shares of AMGN stock traded up $4.85 during trading on Friday, reaching $305.85. The company’s stock had a trading volume of 4,488,874 shares, compared to its average volume of 2,728,028. The business has a fifty day moving average price of $287.82 and a 200-day moving average price of $286.79. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The company has a market cap of $164.07 billion, a price-to-earnings ratio of 43.69, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.98 earnings per share. Analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

Amgen Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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