Somerset Trust Co Has $6.36 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Somerset Trust Co boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,423 shares of the medical research company's stock after purchasing an additional 1,240 shares during the period. Amgen comprises 2.3% of Somerset Trust Co's holdings, making the stock its 8th largest position. Somerset Trust Co's holdings in Amgen were worth $6,363,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Amgen during the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen during the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen during the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMGN. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Johnson Rice set a $294.00 target price on shares of Amgen in a report on Wednesday, March 5th. Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price on the stock. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Trading Up 0.1%

Shares of NASDAQ:AMGN traded up $0.29 during mid-day trading on Monday, reaching $288.47. 2,393,911 shares of the company's stock were exchanged, compared to its average volume of 2,805,090. The firm has a market capitalization of $155.11 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 2.63 and a beta of 0.51. The business's fifty day moving average price is $283.46 and its 200-day moving average price is $285.23. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.30%. Amgen's payout ratio is 86.86%.

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.