Somerset Trust Co Raises Position in Amgen Inc. (NASDAQ:AMGN)

Share on StockTwits

Somerset Trust Co raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,483 shares of the medical research company’s stock after acquiring an additional 336 shares during the quarter. Amgen comprises approximately 2.5% of Somerset Trust Co’s portfolio, making the stock its 8th biggest holding. Somerset Trust Co’s holdings in Amgen were worth $4,952,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. Pure Financial Advisors Inc. lifted its holdings in Amgen by 2.8% during the second quarter. Pure Financial Advisors Inc. now owns 1,469 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 40 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in Amgen by 0.5% during the third quarter. Carroll Financial Associates Inc. now owns 7,574 shares of the medical research company’s stock valued at $1,925,000 after purchasing an additional 41 shares in the last quarter. Price Wealth LLC lifted its holdings in Amgen by 42.9% during the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 42 shares in the last quarter. FCG Advisors LLC lifted its holdings in Amgen by 3.8% during the second quarter. FCG Advisors LLC now owns 1,162 shares of the medical research company’s stock valued at $274,000 after purchasing an additional 42 shares in the last quarter. Finally, AFT Forsyth AND Company Inc. lifted its holdings in Amgen by 1.0% during the second quarter. AFT Forsyth AND Company Inc. now owns 4,465 shares of the medical research company’s stock valued at $1,053,000 after purchasing an additional 45 shares in the last quarter. 75.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AMGN traded up $0.71 during trading on Friday, reaching $235.72. 2,059,919 shares of the company traded hands, compared to its average volume of 2,885,637. Amgen Inc. has a twelve month low of $177.05 and a twelve month high of $264.97. The stock has a market cap of $138.06 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.81. The stock has a 50-day simple moving average of $246.43 and a 200-day simple moving average of $237.88. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 3.20.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the business earned $3.97 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 15.66 EPS for the current year.

Several equities analysts have issued reports on AMGN shares. Jefferies Financial Group increased their price objective on shares of Amgen from $285.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Barclays raised their price target on shares of Amgen from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Royal Bank of Canada reissued a “hold” rating and issued a $223.00 price target on shares of Amgen in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Amgen from $237.00 to $247.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 29th. Finally, Piper Sandler raised their price target on shares of Amgen from $255.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $255.08.

In other Amgen news, Director R Sanders Williams sold 250 shares of Amgen stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $242.95, for a total transaction of $60,737.50. Following the completion of the sale, the director now directly owns 5,159 shares in the company, valued at $1,253,379.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $241.02, for a total transaction of $241,020.00. Over the last quarter, insiders have sold 2,250 shares of company stock valued at $561,548. Company insiders own 0.36% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

Featured Story: What is a growth and income fund?

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.