Fulton Bank N.A. Grows Stake in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Fulton Bank N.A. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 13.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,840 shares of the medical research company’s stock after purchasing an additional 2,103 shares during the quarter. Fulton Bank N.A.’s holdings in Amgen were worth $4,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lantz Financial LLC raised its stake in Amgen by 5.1% during the 2nd quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock valued at $556,000 after buying an additional 87 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the second quarter valued at approximately $26,000. PFG Investments LLC lifted its position in shares of Amgen by 5.0% in the 2nd quarter. PFG Investments LLC now owns 6,819 shares of the medical research company’s stock worth $2,131,000 after purchasing an additional 322 shares during the period. Choreo LLC raised its stake in shares of Amgen by 303.1% during the 2nd quarter. Choreo LLC now owns 16,064 shares of the medical research company’s stock worth $4,999,000 after acquiring an additional 12,079 shares in the last quarter. Finally, LGT Group Foundation boosted its stake in Amgen by 266.2% in the 2nd quarter. LGT Group Foundation now owns 23,145 shares of the medical research company’s stock worth $7,232,000 after purchasing an additional 16,825 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $0.22 during trading on Wednesday, hitting $262.28. 787,035 shares of the stock were exchanged, compared to its average volume of 2,782,971. The company has a market cap of $140.98 billion, a PE ratio of 33.58, a P/E/G ratio of 2.91 and a beta of 0.56. 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 fifty day moving average price of $282.38 and a two-hundred day moving average price of $309.78. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 121.90%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. TD Cowen increased their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird restated an “underperform” rating and set a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $317.30.

View Our Latest Stock Report on AMGN

Amgen Company Profile

(Free Report)

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.

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