Pinnacle Bancorp Inc. Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Pinnacle Bancorp Inc. lowered its position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 532 shares of the medical research company’s stock after selling 52 shares during the period. Pinnacle Bancorp Inc.’s holdings in Amgen were worth $171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in shares of Amgen by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after buying an additional 4,376 shares during the last quarter. Optimist Retirement Group LLC bought a new position in Amgen in the fourth quarter valued at $313,000. Studio Investment Management LLC raised its position in Amgen by 3.7% during the fourth quarter. Studio Investment Management LLC now owns 12,898 shares of the medical research company’s stock valued at $3,715,000 after purchasing an additional 462 shares in the last quarter. Aspect Partners LLC bought a new stake in Amgen during the fourth quarter worth about $167,000. Finally, Sanibel Captiva Trust Company Inc. purchased a new position in shares of Amgen in the 4th quarter worth about $24,091,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. Barclays raised their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given 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 “Moderate Buy” and a consensus price target of $326.30.

Read Our Latest Analysis on Amgen

Amgen Stock Performance

NASDAQ:AMGN opened at $328.35 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The firm’s fifty day simple moving average is $326.06 and its 200 day simple moving average is $310.55. The stock has a market cap of $176.43 billion, a P/E ratio of 56.51, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGNGet Free Report) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the firm posted $5.00 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 154.91%.

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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