Fifth Third Bancorp Sells 17,755 Shares of Amgen Inc. (NASDAQ:AMGN)

Fifth Third Bancorp lessened its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,302 shares of the medical research company’s stock after selling 17,755 shares during the period. Fifth Third Bancorp owned about 0.06% of Amgen worth $86,351,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in Amgen during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter worth $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the second quarter worth $30,000. Matrix Trust Co bought a new position in shares of Amgen in the 3rd quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMGN shares. Citigroup lowered their target price on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. UBS Group dropped their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $314.65.

Check Out Our Latest Report on AMGN

Amgen Price Performance

AMGN stock opened at $275.42 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company’s 50-day moving average is $271.55 and its 200-day moving average is $306.24. The stock has a market capitalization of $148.05 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) 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 the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. Equities research analysts expect that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 121.90%.

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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