Huntington National Bank Sells 301 Shares of Amgen Inc. (NASDAQ:AMGN)

Huntington National Bank cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,037 shares of the medical research company’s stock after selling 301 shares during the period. Huntington National Bank’s holdings in Amgen were worth $15,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen during the 3rd quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC bought a new stake in shares of Amgen in the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at about $33,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. Bank of America boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average target price of $333.57.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $295.93 on Friday. The firm has a 50 day moving average of $322.15 and a 200 day moving average of $318.15. 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 company has a market capitalization of $159.07 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.60. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the prior year, the business posted $4.96 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is currently 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.