Stock Yards Bank & Trust Co. Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Stock Yards Bank & Trust Co. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,282 shares of the medical research company’s stock after selling 416 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Amgen were worth $6,213,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter worth approximately $29,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $30,000. Finally, nVerses Capital LLC purchased a new stake in Amgen in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Dbs Bank raised Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $319.68.

Amgen Stock Performance

NASDAQ AMGN opened at $273.41 on Thursday. 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 company has a market capitalization of $146.97 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The business’s 50-day moving average price is $303.87 and its 200 day moving average price is $315.16. Amgen Inc. has a twelve month low of $257.80 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its 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. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.48%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.