Raymond James Trust N.A. Buys 18,921 Shares of Amgen Inc. (NASDAQ:AMGN)

Raymond James Trust N.A. boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 28.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 84,519 shares of the medical research company’s stock after buying an additional 18,921 shares during the period. Raymond James Trust N.A.’s holdings in Amgen were worth $27,233,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Amgen during the third quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the 2nd quarter worth $26,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the second quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen in the second quarter valued at about $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup started coverage on Amgen in a research note on Thursday, November 14th. They set a “neutral” rating and a $335.00 price objective on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Price Performance

Shares of AMGN opened at $289.77 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market cap of $155.76 billion, a PE ratio of 37.10, a PEG ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.68 and a 12-month high of $346.85. The business has a 50-day simple moving average of $317.28 and a two-hundred day simple moving average of $318.02.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.11%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Amgen Company 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.