Fifth Third Bancorp reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 438,431 shares of the medical research company's stock after selling 22,776 shares during the quarter. Fifth Third Bancorp owned approximately 0.08% of Amgen worth $158,765,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after buying an additional 961,975 shares during the period. State Street Corp increased its stake in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares during the last quarter. Capital World Investors increased its stake in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen during the fourth quarter worth $2,164,162,000. 76.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AMGN has been the subject of a number of research reports. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research report on Friday, June 5th. Royal Bank Of Canada upped their target price on Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. TD Cowen raised their price target on Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Bank of America boosted their price target on Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $372.39.
Check Out Our Latest Stock Report on AMGN
Amgen Stock Performance
NASDAQ:AMGN opened at $415.21 on Monday. The company's 50 day moving average is $370.57 and its 200-day moving average is $358.99. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $421.79. The firm has a market cap of $224.48 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 3.86 and a beta of 0.41.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. Amgen's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts anticipate that Amgen Inc. will post 22.78 EPS for the current year.
Amgen Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen's payout ratio is currently 62.65%.
Insider Transactions at Amgen
In other news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. Corporate insiders own 0.85% of the company's stock.
Amgen Company Profile
(
Free Report)
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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