BTC Capital Management Inc. Purchases 1,367 Shares of Amgen Inc. $AMGN

Key Points

• BTC Capital Management Inc. increased its stake in Amgen Inc. by 20.5%, acquiring an additional 1,367 shares, bringing its total to 8,039 shares valued at approximately $2.21 million.
• Wall Street analysts have a consensus rating of "Hold" for Amgen, with seven analysts recommending a Buy and an average target price of $304.43.
• Amgen recently declared a quarterly dividend of $2.38, yielding 3.3%, with a payout ratio of 77.84%.

BTC Capital Management Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,039 shares of the medical research company's stock after purchasing an additional 1,367 shares during the quarter. BTC Capital Management Inc.'s holdings in Amgen were worth $2,214,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the first quarter valued at $25,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the 4th quarter worth approximately $26,000. Finally, Activest Wealth Management increased its holdings in shares of Amgen by 3,433.3% during 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 last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating for the company. 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. Citigroup raised their price objective on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Bank of America lifted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Seven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $304.43.

Amgen Stock Up 3.5%

NASDAQ AMGN opened at $285.41 on Friday. 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 company has a market capitalization of $153.65 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The stock has a 50 day moving average price of $290.57 and a 200-day moving average price of $290.48.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. Amgen'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. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 in the company, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company's stock.

Amgen 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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.