Harbour Trust & Investment Management Co Takes $1.42 Million Position in Amgen Inc. (NASDAQ:AMGN)

Harbour Trust & Investment Management Co purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,944 shares of the medical research company's stock, valued at approximately $1,424,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its position in Amgen by 83,875.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company's stock valued at $1,980,571,000 after acquiring an additional 7,532,031 shares during the last quarter. Norges Bank bought a new position in Amgen in the 4th quarter valued at $1,351,778,000. Price T Rowe Associates Inc. MD grew its position in Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company's stock valued at $774,791,000 after acquiring an additional 1,806,456 shares during the last quarter. International Assets Investment Management LLC bought a new position in Amgen in the 4th quarter valued at $4,589,900,000. Finally, Morgan Stanley grew its position in Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company's stock valued at $3,493,471,000 after acquiring an additional 1,523,665 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. BMO Capital Markets raised Amgen from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. UBS Group dropped their price target on Amgen from $315.00 to $314.00 and set a "neutral" rating on the stock in a research report on Monday, January 29th. Raymond James initiated coverage on Amgen in a research report on Thursday, March 28th. They set a "market perform" rating on the stock. StockNews.com downgraded Amgen from a "buy" rating to a "hold" rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $329.00 price target on shares of Amgen in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $295.30.

Amgen Stock Up 0.4 %

Amgen stock traded up $1.16 during midday trading on Tuesday, reaching $270.36. The company's stock had a trading volume of 1,792,588 shares, compared to its average volume of 2,935,626. The stock's 50-day simple moving average is $283.93 and its 200-day simple moving average is $281.56. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock has a market capitalization of $144.89 billion, a P/E ratio of 21.65, a PEG ratio of 2.55 and a beta of 0.58.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts' consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion during the quarter, compared to analysts' expectations of $8.13 billion. During the same period last year, the business posted $4.09 earnings per share. The firm's revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 19.48 EPS for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen's payout ratio is 72.06%.

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.