Amgen Inc. $AMGN Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its Amgen holdings by 1.8% in the second quarter, owning 301,333 shares worth approximately $84.1 million after selling 5,387 shares.
• Amgen reported $6.02 earnings per share for the last quarter, surpassing the consensus estimate of $5.28 and achieving a 9.4% revenue increase year-over-year.
• The company announced a quarterly dividend of $2.38 per share, with an annualized yield of 3.3%, and a payout ratio of 77.84%.

Fifth Third Bancorp lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,333 shares of the medical research company's stock after selling 5,387 shares during the period. Fifth Third Bancorp owned 0.06% of Amgen worth $84,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMGN. GAMMA Investing LLC raised its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Nuveen LLC bought a new stake in shares of Amgen during the first quarter valued at approximately $688,868,000. Federated Hermes Inc. raised its holdings in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after buying an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after buying an additional 600,096 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Amgen during the second quarter valued at approximately $156,812,000. Institutional investors own 76.50% of the company's stock.

Amgen Trading Up 0.3%

NASDAQ AMGN opened at $286.81 on Wednesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market cap of $154.41 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.48 and a beta of 0.49. The firm's 50 day moving average price is $290.23 and its two-hundred day moving average price is $290.00.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. 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 previous year, the company posted $4.97 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president directly owned 7,209 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMGN shares. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group cut their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Piper Sandler boosted their target price on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Bank of America boosted their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $304.43.

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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