Amgen Inc. $AMGN Stock Sold by First Bank & Trust

Key Points

• First Bank & Trust cut its Amgen position by 22.5% in the third quarter, selling 2,479 shares and retaining 8,535 shares valued at approximately $3.6 million. Institutional investors collectively own 76.5% of Amgen’s stock.
• Amgen insiders sold 6,222 shares worth about $2.54 million over the past 90 days, while company insiders own just 0.85% of the stock.
• Analysts’ consensus rating remains “Hold,” with an average price target of $387.93. Amgen recently exceeded quarterly earnings and revenue expectations, reporting $6.29 in EPS and $10.05 billion in revenue, up 9.5% year over year.

First Bank & Trust decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,535 shares of the medical research company's stock after selling 2,479 shares during the period. First Bank & Trust's holdings in Amgen were worth $3,598,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wellington Altus USA Inc. raised its stake in shares of Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after buying an additional 34 shares during the period. Tower View Wealth Management LLC grew its stake in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after acquiring an additional 63 shares during the period. Nvwm LLC grew its stake in shares of Amgen by 412.5% during the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company's stock worth $35,000 after acquiring an additional 66 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in Amgen in the 2nd quarter worth about $36,000. Finally, Evergreen Advisors LLC purchased a new stake in Amgen in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Piper Sandler boosted their price objective on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Morgan Stanley dropped their price objective on shares of Amgen from $362.00 to $359.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 7th. Oppenheimer reiterated an "outperform" rating on shares of Amgen in a research report on Wednesday, September 23rd. TD Cowen lifted their target price on shares of Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Citigroup lifted their target price on shares of Amgen from $345.00 to $405.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $387.93.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $432.49 on Monday. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a fifty-two week low of $288.00 and a fifty-two week high of $447.03. The stock has a market cap of $233.82 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. The stock has a fifty day moving average of $415.54 and a 200-day moving average of $374.94.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter in the prior year, the firm posted $6.02 EPS. The firm's quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 21st. Amgen's dividend payout ratio (DPR) is 62.65%.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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