First Citizens Bank & Trust Co. Purchases 6,611 Shares of Amgen Inc. $AMGN

Key Points

• First Citizens Bank increased its Amgen stake by 68% in the third quarter, purchasing 6,611 additional shares and bringing its holdings to 16,328 shares valued at approximately $6.88 million.
• Analysts maintain a broadly neutral outlook, with Amgen receiving a consensus “Hold” rating and an average price target of $387.93, below its reported opening price of $412.84.
• Amgen reported quarterly revenue of $10.05 billion and earnings of $6.29 per share, exceeding analyst estimates, while paying a quarterly dividend of $2.52 per share, equivalent to a 2.4% annual yield.

First Citizens Bank & Trust Co. raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 68.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,328 shares of the medical research company's stock after buying an additional 6,611 shares during the period. First Citizens Bank & Trust Co.'s holdings in Amgen were worth $6,882,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Altus USA Inc. increased its position 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 acquiring an additional 34 shares during the period. Tower View Wealth Management LLC raised its stake in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Amgen during the second quarter worth about $36,000. Steph & Co. bought a new stake in shares of Amgen in the third quarter worth about $42,000. Finally, Evergreen Advisors LLC bought a new stake in shares of Amgen in the first quarter worth about $37,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on AMGN. Mizuho increased their price objective on Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a report on Tuesday, August 18th. Barclays boosted their target price on Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday, August 14th. Guggenheim decreased their target price on Amgen from $388.00 to $378.00 and set a "neutral" rating for the company in a report on Tuesday. Truist Financial raised their price target on Amgen from $362.00 to $380.00 and gave the stock a "hold" rating in a research note on Wednesday, October 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Amgen from $400.00 to $440.00 and gave the company a "neutral" rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus price target of $387.93.

Amgen Stock Performance

Shares of AMGN opened at $412.84 on Wednesday. The company has a 50-day simple moving average of $414.16 and a two-hundred day simple moving average of $373.24. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The firm has a market capitalization of $223.19 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.01 and a beta of 0.41. Amgen Inc. has a one year low of $288.00 and a one year high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results 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. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the prior year, the company earned $6.02 EPS. The business's revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts anticipate that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen's dividend payout ratio is 62.65%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was 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 SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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