Amgen Inc. $AMGN Shares Acquired by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Amgen Inc. by 36.2% in the second quarter, owning 8,423 shares valued at approximately $2.35 million.
• Amgen recently reported strong quarterly earnings, with an EPS of $6.02, exceeding analysts' expectations of $5.28, and a year-over-year revenue increase of 9.4%.
• The company declared a quarterly dividend of $2.38, marking an annualized dividend of $9.52 and a yield of 3.3%, with a payout ratio of 77.84%.

Fifth Third Wealth Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 36.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,423 shares of the medical research company's stock after acquiring an additional 2,238 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Amgen were worth $2,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. OLD National Bancorp IN increased its stake in shares of Amgen by 296.2% in the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock worth $5,027,000 after acquiring an additional 13,460 shares during the last quarter. KPP Advisory Services LLC increased its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Amgen during the 1st quarter worth about $1,331,000. Trinity Legacy Partners LLC increased its position in shares of Amgen by 3.9% during 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 last quarter. Finally, DLK Investment Management LLC increased its position 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 worth $6,384,000 after purchasing an additional 1,387 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock opened at $290.13 on Friday. The business has a 50-day moving average of $286.77 and a 200 day moving average of $287.55. 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 $156.19 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating 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 company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period last year, the business posted $4.97 EPS. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. 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 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMGN shares. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Finally, Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $309.42.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.