Amgen Inc. $AMGN Shares Sold by First Financial Bankshares Inc

Key Points

• First Financial Bankshares Inc reduced its stake in Amgen Inc. by 4.1%, owning 219,612 shares valued at approximately $68.42 million as of the last quarter.
• Despite the recent sales by insiders, 76.50% of Amgen’s stock is owned by institutional investors and hedge funds, highlighting significant institutional interest.
• Amgen reported earnings of $6.02 per share in its latest quarter, exceeding expectations, with a revenue of $9.18 billion compared to an anticipated $8.86 billion.

First Financial Bankshares Inc lessened its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,612 shares of the medical research company's stock after selling 9,441 shares during the period. Amgen makes up 1.5% of First Financial Bankshares Inc's portfolio, making the stock its 21st biggest position. First Financial Bankshares Inc's holdings in Amgen were worth $68,420,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the 1st quarter worth about $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter worth about $26,000. First Pacific Financial increased its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the period. Activest Wealth Management increased its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMGN shares. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Bank of America raised their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $304.43.

Amgen Stock Performance

Shares of AMGN opened at $287.71 on Monday. The firm's 50 day moving average is $293.13 and its 200-day moving average is $292.88. The stock has a market capitalization of $154.89 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.50 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 Inc. has a 12-month low of $253.30 and a 12-month high of $339.17.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's payout ratio is currently 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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