First Interstate Bank Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Interstate Bank lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 63.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,272 shares of the medical research company’s stock after buying an additional 883 shares during the quarter. First Interstate Bank’s holdings in Amgen were worth $732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in shares of Amgen during the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC bought a new position in Amgen in the second quarter valued at about $30,000. nVerses Capital LLC purchased a new position in Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC bought a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen during the 3rd quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AMGN. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $333.50.

Amgen Trading Down 0.3 %

Shares of AMGN traded down $0.94 during trading hours on Friday, reaching $319.22. 1,826,772 shares of the company traded hands, compared to its average volume of 2,418,089. The stock’s fifty day moving average price is $324.47 and its 200 day moving average price is $315.19. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market cap of $171.53 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.84 and a beta of 0.61. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 181.58% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the business posted $4.96 EPS. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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 dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Amgen 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.