BankPlus Trust Department Raises Stock Position in Amgen Inc. $AMGN

Key Points

• BankPlus Trust Department increased its stake in Amgen Inc. by 41.6% during the second quarter, owning a total of 11,663 shares valued at $3,256,000.
• Several other hedge funds also enhanced their positions in Amgen, with OLD National Bancorp IN boosting its holdings by 296.2%, reaching 18,004 shares valued at $5,027,000.
• Amgen's recent quarterly earnings showed an EPS of $6.02, surpassing analyst estimates, and the company also declared a quarterly dividend of $2.38 per share, yielding 3.2% annually.

BankPlus Trust Department raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 41.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,663 shares of the medical research company's stock after purchasing an additional 3,425 shares during the quarter. Amgen makes up about 1.0% of BankPlus Trust Department's holdings, making the stock its 18th biggest holding. BankPlus Trust Department's holdings in Amgen were worth $3,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMGN. OLD National Bancorp IN boosted its holdings in shares of Amgen by 296.2% during the 2nd quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company's stock valued at $5,027,000 after buying an additional 13,460 shares in the last quarter. KPP Advisory Services LLC boosted its holdings in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Amgen during the 1st quarter valued at $1,331,000. Trinity Legacy Partners LLC boosted its holdings in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company's stock valued at $5,026,000 after buying an additional 612 shares in the last quarter. Finally, DLK Investment Management LLC boosted its holdings in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Amgen in a research note on Saturday, September 27th. Citigroup upped their price target on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. UBS Group dropped their price target on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley upped their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $309.42.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company's stock.

Amgen Price Performance

NASDAQ AMGN opened at $295.54 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The firm has a market capitalization of $159.11 billion, a P/E ratio of 24.17, a PEG ratio of 2.55 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a 50-day moving average price of $287.04 and a 200-day moving average price of $287.88.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm earned $4.97 EPS. The business's revenue for the quarter 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 research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio is presently 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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