Cambridge Trust Co. Has $1.09 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Cambridge Trust Co. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,770 shares of the medical research company’s stock after selling 511 shares during the quarter. Cambridge Trust Co.’s holdings in Amgen were worth $1,086,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Oliver Lagore Vanvalin Investment Group increased its holdings in Amgen by 8.8% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 482 shares of the medical research company’s stock valued at $139,000 after buying an additional 39 shares during the period. Twin Capital Management Inc. increased its stake in Amgen by 195.0% in the fourth quarter. Twin Capital Management Inc. now owns 14,795 shares of the medical research company’s stock valued at $4,261,000 after acquiring an additional 9,779 shares during the last quarter. CapWealth Advisors LLC raised its position in Amgen by 1.2% during the fourth quarter. CapWealth Advisors LLC now owns 29,988 shares of the medical research company’s stock valued at $8,637,000 after purchasing an additional 350 shares in the last quarter. Groesbeck Investment Management Corp NJ lifted its stake in Amgen by 5.6% during the fourth quarter. Groesbeck Investment Management Corp NJ now owns 3,788 shares of the medical research company’s stock worth $1,091,000 after purchasing an additional 200 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Amgen by 1.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 34,764 shares of the medical research company’s stock valued at $10,013,000 after purchasing an additional 568 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. UBS Group reduced their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Performance

NASDAQ:AMGN opened at $262.75 on Friday. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a 50 day simple moving average of $277.34 and a two-hundred day simple moving average of $281.24. The company has a market capitalization of $140.81 billion, a PE ratio of 21.04, a P/E/G ratio of 2.46 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion during the quarter, compared to analysts’ expectations of $8.13 billion. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.09 earnings per share. Research analysts anticipate that Amgen Inc. will post 19.45 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is 72.06%.

About Amgen

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.