Chevy Chase Trust Holdings LLC Has $80.98 Million Stock Position in Amgen Inc. $AMGN

Key Points

• Chevy Chase Trust Holdings LLC has increased its stake in Amgen Inc. by 0.7%, holding approximately $80.98 million worth of the company's stock.
• Amgen reported earnings of $6.02 per share for its last quarter, exceeding analysts' expectations of $5.28, and revenue of $9.18 billion, up 9.4% year-over-year.
• The company recently declared a quarterly dividend of $2.38 per share, reflecting an annualized yield of 3.2% with a payout ratio of 77.84%.

Chevy Chase Trust Holdings LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 290,028 shares of the medical research company's stock after acquiring an additional 1,922 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Amgen worth $80,979,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Brighton Jones LLC increased its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC increased its position in Amgen by 40.2% during the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company's stock worth $3,662,000 after buying an additional 3,369 shares during the last quarter. Inscription Capital LLC acquired a new position in Amgen during the first quarter worth approximately $348,000. Kingswood Wealth Advisors LLC increased its position in Amgen by 2.3% during the first quarter. Kingswood Wealth Advisors LLC now owns 3,524 shares of the medical research company's stock worth $1,096,000 after buying an additional 79 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC acquired a new position in Amgen during the first quarter worth approximately $219,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 0.5%

Shares of NASDAQ:AMGN opened at $295.81 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The stock has a market cap of $159.25 billion, a PE ratio of 24.19, a P/E/G ratio of 2.63 and a beta of 0.49. The business has a 50 day moving average of $286.93 and a 200-day moving average of $287.33. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Piper Sandler boosted their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $305.50.

Insider Activity

In related 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 approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.76% of the company's stock.

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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