PNC Financial Services Group Inc. Sells 28,346 Shares of Amgen Inc. (NASDAQ:AMGN)

PNC Financial Services Group Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,039,720 shares of the medical research company's stock after selling 28,346 shares during the period. PNC Financial Services Group Inc. owned about 0.19% of Amgen worth $335,008,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its position in Amgen by 44.3% during the first quarter. Hillsdale Investment Management Inc. now owns 1,400 shares of the medical research company's stock worth $398,000 after buying an additional 430 shares during the last quarter. Bessemer Group Inc. raised its stake in Amgen by 29.3% in the 1st quarter. Bessemer Group Inc. now owns 37,202 shares of the medical research company's stock valued at $10,578,000 after acquiring an additional 8,441 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Amgen by 2.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company's stock valued at $14,241,000 after purchasing an additional 1,311 shares during the last quarter. InterOcean Capital Group LLC boosted its holdings in shares of Amgen by 3.7% during the 1st quarter. InterOcean Capital Group LLC now owns 7,055 shares of the medical research company's stock worth $2,006,000 after buying an additional 250 shares during the period. Finally, Ossiam boosted its holdings in shares of Amgen by 154.2% during the first quarter. Ossiam now owns 49,414 shares of the medical research company's stock worth $14,049,000 after acquiring an additional 29,975 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 0.4 %

Shares of NASDAQ:AMGN traded up $1.19 during mid-day trading on Tuesday, reaching $279.95. 3,210,343 shares of the company's stock were exchanged, compared to its average volume of 2,459,217. The firm has a market capitalization of $150.48 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.53 and a beta of 0.60. Amgen Inc. has a twelve month low of $260.52 and a twelve month high of $346.85. The business's fifty day moving average price is $319.90 and its 200-day moving average price is $318.65. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 analysts' expectations of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The business's quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts predict that Amgen Inc. will post 19.51 EPS 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 dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, November 18th. Amgen's dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. UBS Group dropped their price target on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Dbs Bank raised Amgen to a "strong-buy" rating in a research report on Monday, September 16th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, StockNews.com raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $333.57.

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.