Penobscot Investment Management Company Inc. boosted its stake in Amgen, Inc. (NASDAQ:AMGN) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,770 shares of the medical research company’s stock after buying an additional 780 shares during the period. Amgen accounts for approximately 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 17th largest position. Penobscot Investment Management Company Inc.’s holdings in Amgen were worth $4,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Baker Ellis Asset Management LLC purchased a new position in Amgen in the 3rd quarter worth approximately $108,000. Jackson Grant Investment Advisers Inc. grew its position in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares during the period. Phocas Financial Corp. bought a new stake in Amgen in the 2nd quarter worth approximately $110,000. Omnia Family Wealth LLC grew its position in Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares during the period. Finally, Grove Bank & Trust grew its position in Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

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Shares of Amgen, Inc. (NASDAQ:AMGN) traded up $1.99 during midday trading on Monday, hitting $198.00. 4,553,598 shares of the stock traded hands, compared to its average volume of 2,780,000. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market cap of $143,730.00, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.36. Amgen, Inc. has a 52-week low of $152.16 and a 52-week high of $201.23.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 2.67%. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio is currently 41.55%.

Amgen declared that its Board of Directors has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms have commented on AMGN. Mizuho set a $192.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Friday, December 22nd. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank of Canada cut their price objective on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research report on Thursday, October 26th. Oppenheimer reissued a “buy” rating and set a $205.00 price objective on shares of Amgen in a research report on Thursday, November 30th. Finally, Argus raised shares of Amgen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Fifteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $191.28.

In related news, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The disclosure for this sale can be found here. Insiders have sold a total of 8,575 shares of company stock worth $1,508,836 over the last quarter. 0.19% of the stock is currently owned by insiders.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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