Amgen Inc. $AMGN Shares Acquired by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank boosted its Amgen stake by 17.9% in the fourth quarter, buying 12,463 more shares and bringing its total to 82,271 shares valued at about $26.9 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• The company also announced a quarterly dividend of $2.52 per share, payable June 5, representing a 3.0% annualized yield; meanwhile, analysts currently rate the stock a consensus Hold.

Wesbanco Bank Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,271 shares of the medical research company's stock after buying an additional 12,463 shares during the quarter. Amgen makes up about 0.7% of Wesbanco Bank Inc.'s holdings, making the stock its 26th largest position. Wesbanco Bank Inc.'s holdings in Amgen were worth $26,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. West Family Investments Inc. increased its position in Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after purchasing an additional 30 shares in the last quarter. Viawealth LLC increased its position in Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after purchasing an additional 30 shares in the last quarter. LOM Asset Management Ltd increased its position in Amgen by 1.2% during the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock worth $721,000 after purchasing an additional 30 shares in the last quarter. Smith Salley Wealth Management increased its position in Amgen by 0.3% during the 4th quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after purchasing an additional 30 shares in the last quarter. Finally, Evergreen Private Wealth LLC increased its position in Amgen by 4.0% during the 4th quarter. Evergreen Private Wealth LLC now owns 785 shares of the medical research company's stock worth $257,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMGN. Rothschild & Co Redburn lifted their price target on Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. TD Cowen restated a "buy" rating on shares of Amgen in a report on Wednesday, February 4th. Guggenheim decreased their target price on Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Cantor Fitzgerald reiterated a "neutral" rating and set a $350.00 target price on shares of Amgen in a report on Wednesday, April 8th. Finally, Piper Sandler boosted their target price on Amgen from $381.00 to $432.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $357.12.

Amgen Stock Performance

Shares of AMGN opened at $331.70 on Friday. The business's 50 day moving average is $355.12 and its two-hundred day moving average is $341.81. Amgen Inc. has a 52-week low of $261.43 and a 52-week high of $391.29. The firm has a market cap of $179.01 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 3.30 and a beta of 0.44. The company has a quick ratio of 0.90, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts forecast that Amgen Inc. will post 22.36 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio is currently 70.15%.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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