Adirondack Trust Co. Lowers Stake in Amgen Inc. (AMGN)

Adirondack Trust Co. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,430 shares of the medical research company’s stock after selling 40 shares during the quarter. Adirondack Trust Co.’s holdings in Amgen were worth $246,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its stake in shares of Amgen by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after buying an additional 4 shares in the last quarter. Financial Advisory Service Inc. increased its stake in shares of Amgen by 0.3% in the second quarter. Financial Advisory Service Inc. now owns 1,974 shares of the medical research company’s stock valued at $340,000 after buying an additional 5 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Amgen by 0.6% in the second quarter. Capital Advisors Ltd. LLC now owns 1,103 shares of the medical research company’s stock valued at $190,000 after buying an additional 7 shares in the last quarter. Investment Partners Ltd. OH ADV increased its stake in shares of Amgen by 0.5% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,192 shares of the medical research company’s stock valued at $377,000 after buying an additional 11 shares in the last quarter. Finally, Conservest Capital Advisors Inc. increased its stake in shares of Amgen by 0.4% in the second quarter. Conservest Capital Advisors Inc. now owns 3,130 shares of the medical research company’s stock valued at $539,000 after buying an additional 13 shares in the last quarter. Institutional investors own 78.08% of the company’s stock.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

AMGN has been the subject of a number of research reports. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $203.00 target price (up from $189.00) on shares of Amgen in a research note on Wednesday, July 26th. ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Mizuho reiterated a “buy” rating and issued a $198.00 price objective (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Argus lifted their price objective on Amgen from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $189.94.

Amgen Inc. (NASDAQ AMGN) opened at 182.96 on Monday. The stock’s 50 day moving average price is $185.13 and its 200 day moving average price is $171.60. The company has a market cap of $133.50 billion, a PE ratio of 16.66 and a beta of 1.36. Amgen Inc. has a 12-month low of $133.64 and a 12-month high of $191.10.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The firm had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the firm posted $2.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post $12.58 EPS for the current year.

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Amgen Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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