Amgen Inc. $AMGN Shares Sold by Country Club Bank

Key Points

• Country Club Bank reduced its holdings in Amgen by 4.5% in the second quarter, now owning 26,786 shares valued at approximately $7.42 million.
• Amgen reported a Q2 EPS of $6.02, exceeding estimates by $0.74, with revenue of $9.18 billion, reflecting a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized yield of 3.2% and a payout ratio of 77.84%.

Country Club Bank cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,786 shares of the medical research company's stock after selling 1,252 shares during the quarter. Country Club Bank's holdings in Amgen were worth $7,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after buying an additional 148,658 shares during the period. Royal Bank of Canada lifted its stake in shares of Amgen by 6.0% in the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after purchasing an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock worth $1,387,695,000 after purchasing an additional 243,306 shares during the period. Deutsche Bank AG increased its position in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock worth $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company's stock valued at $940,989,000 after buying an additional 22,820 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Raymond James Financial initiated coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price target 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 company an "overweight" rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Amgen in a research report on Saturday, September 27th. Finally, Morgan Stanley raised their target price on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $309.42.

Amgen Stock Performance

Amgen stock opened at $294.12 on Tuesday. 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 50 day moving average of $287.20 and a 200-day moving average of $287.83. The stock has a market cap of $158.34 billion, a P/E ratio of 24.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. 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, beating analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts expect 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 issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's payout ratio is currently 77.84%.

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.

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