American National Bank & Trust Grows Stock Holdings in Amgen Inc. $AMGN

Key Points

• American National Bank & Trust increased its holdings in Amgen Inc. by 2.8% in the second quarter, now owning 36,316 shares valued at approximately $10.14 million.
• Amgen reported stronger-than-expected quarterly earnings, with an EPS of $6.02, exceeding analysts' estimates of $5.28, and a revenue of $9.18 billion.
• The company recently announced a quarterly dividend of $2.38, representing an annualized yield of 3.5%.

American National Bank & Trust increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,316 shares of the medical research company's stock after purchasing an additional 984 shares during the quarter. American National Bank & Trust's holdings in Amgen were worth $10,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. KPP Advisory Services LLC lifted its stake in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council purchased a new stake in shares of Amgen in the 1st quarter worth about $1,331,000. Trinity Legacy Partners LLC lifted its position in shares of Amgen by 3.9% in the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock worth $5,026,000 after purchasing an additional 612 shares during the period. DLK Investment Management LLC boosted its stake in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its position in shares of Amgen by 2.7% during the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company's stock valued at $491,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Down 2.9%

Shares of NASDAQ:AMGN opened at $271.18 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a fifty day simple moving average of $289.29 and a two-hundred day simple moving average of $289.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market capitalization of $145.99 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.43 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the prior year, the firm posted $4.97 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.5%. Amgen's payout ratio is 77.84%.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Bank of America increased their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial assumed coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $309.15.

Amgen 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.

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