Amgen Inc. $AMGN is WoodTrust Financial Corp's Largest Position

Key Points

• WoodTrust Financial Corp significantly increased its stake in Amgen Inc. by 8,223.6%, making it the company's largest investment, accounting for 19.0% of its portfolio.
• Amgen recently reported strong earnings for the quarter, with an EPS of $6.02 surpassing estimates and a revenue increase of 9.4% year-over-year.
• The company also declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.2%.

WoodTrust Financial Corp increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8,223.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 595,634 shares of the medical research company's stock after purchasing an additional 588,478 shares during the period. Amgen makes up 19.0% of WoodTrust Financial Corp's investment portfolio, making the stock its largest holding. WoodTrust Financial Corp owned 0.11% of Amgen worth $166,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AMGN. Wealth Preservation Advisors LLC purchased a new position in shares of Amgen in the 1st quarter worth $25,000. First Pacific Financial boosted its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares during the period. Activest Wealth Management boosted its position in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. boosted its position in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after buying an additional 122 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMGN. Raymond James Financial began coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research note on Friday, September 26th. Finally, Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $309.42.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business's 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 of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.69% of the company's stock.

Amgen Trading Up 0.5%

NASDAQ AMGN opened at $295.54 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market cap of $159.11 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company has a 50 day moving average price of $287.04 and a 200 day moving average price of $287.88. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

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.

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