Tompkins Financial Corp Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Tompkins Financial Corp cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,422 shares of the medical research company’s stock after selling 340 shares during the quarter. Tompkins Financial Corp’s holdings in Amgen were worth $6,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tanglewood Legacy Advisors LLC bought a new stake in Amgen during the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. bought a new stake in shares of Amgen in the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Amgen in the 1st quarter worth approximately $28,000. GW&K Investment Management LLC increased its position in Amgen by 200.0% during the 4th quarter. GW&K Investment Management LLC now owns 120 shares of the medical research company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. Finally, General Partner Inc. bought a new position in Amgen during the 1st quarter valued at approximately $32,000. 74.44% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ AMGN traded up $1.50 during trading hours on Tuesday, hitting $264.65. 408,990 shares of the company’s stock traded hands, compared to its average volume of 2,447,513. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $296.67. The firm has a market capitalization of $141.56 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.28 and a beta of 0.61. The company has a current ratio of 2.77, a quick ratio of 2.48 and a debt-to-equity ratio of 8.76. The business’s fifty day moving average price is $248.12 and its two-hundred day moving average price is $237.72.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, August 3rd. The medical research company reported $5.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.44 by $0.56. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.66 billion. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.65 EPS. Equities research analysts predict that Amgen Inc. will post 18.35 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a dividend of $2.13 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.22%. Amgen’s dividend payout ratio (DPR) is presently 57.45%.

Insider Buying and Selling

In other Amgen news, EVP Murdo Gordon sold 9,558 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $262.43, for a total value of $2,508,305.94. Following the completion of the transaction, the executive vice president now directly owns 44,308 shares in the company, valued at $11,627,748.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 8th. Credit Suisse Group reduced their price objective on Amgen from $220.00 to $200.00 in a research report on Wednesday, July 12th. Royal Bank of Canada raised their price objective on Amgen from $250.00 to $253.00 and gave the company a “sector perform” rating in a research report on Friday, August 4th. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Amgen in a research report on Tuesday, July 25th. Finally, Jefferies Financial Group raised their price objective on Amgen from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $265.44.

Amgen Profile

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 that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.