Legacy Private Trust Co. Buys 606 Shares of Amgen Inc. (NASDAQ:AMGN)

Legacy Private Trust Co. grew its stake in Amgen Inc. (NASDAQ:AMGN) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,322 shares of the medical research company’s stock after acquiring an additional 606 shares during the period. Legacy Private Trust Co.’s holdings in Amgen were worth $2,593,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter worth about $25,000. Pinney & Scofield Inc. bought a new position in Amgen during the fourth quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE grew its holdings 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 purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in Amgen during the fourth quarter worth about $34,000. Finally, Atala Financial Inc bought a new position in Amgen during the fourth quarter worth about $34,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMGN. Cantor Fitzgerald began coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target for the company. Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Up 1.8%

Shares of AMGN opened at $283.54 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $152.46 billion, a P/E ratio of 37.56, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $283.86 and a two-hundred day simple moving average of $285.50.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the business earned $3.96 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.36%. Amgen’s dividend payout ratio (DPR) is presently 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.