Washington Trust Advisors Inc. Has $430,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Washington Trust Advisors Inc. grew its position in Amgen Inc. (NASDAQ:AMGN) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,335 shares of the medical research company’s stock after purchasing an additional 127 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Amgen were worth $430,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the business. AIA Group Ltd acquired a new stake in Amgen in the first quarter valued at approximately $612,000. Susquehanna Fundamental Investments LLC bought a new stake in Amgen in the 1st quarter worth about $2,957,000. Montag A & Associates Inc. increased its position in shares of Amgen by 84.8% during the first quarter. Montag A & Associates Inc. now owns 5,775 shares of the medical research company’s stock valued at $1,642,000 after acquiring an additional 2,650 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of Amgen by 115.1% during the 1st quarter. Atomi Financial Group Inc. now owns 3,736 shares of the medical research company’s stock worth $1,062,000 after purchasing an additional 1,999 shares during the period. Finally, Chilton Capital Management LLC boosted its stake in Amgen by 5.9% in the first quarter. Chilton Capital Management LLC now owns 67,615 shares of the medical research company’s stock valued at $19,224,000 after acquiring an additional 3,773 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 1.0 %

AMGN stock opened at $325.28 on Friday. The business’s 50-day moving average is $323.61 and its 200 day moving average is $317.08. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $174.85 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 2.79 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85.

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

Amgen Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Robert W. Baird reissued an “underperform” rating and set a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $333.50.

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.