Park National Corp OH Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Park National Corp OH lifted its position in Amgen Inc. (NASDAQ:AMGN) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,210 shares of the medical research company’s stock after buying an additional 55 shares during the quarter. Park National Corp OH’s holdings in Amgen were worth $712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in shares of Amgen in the second quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the first quarter worth $28,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the second quarter valued at $30,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen during the 2nd quarter worth about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.7 %

Amgen stock opened at $317.48 on Friday. The stock has a 50 day moving average of $327.58 and a two-hundred day moving average of $308.62. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $170.31 billion, a price-to-earnings ratio of 45.35, a PEG ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.00 EPS. As a group, research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Friday, September 27th. They set an “overweight” rating and a $405.00 target price for the company. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $325.55.

Amgen Company Profile

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.