First Citizens Bank & Trust Co. Raises Stake in Amgen Inc. $AMGN

Key Points

• First Citizens Bank & Trust Co. has increased its stake in Amgen Inc. by 15.8%, now holding 11,424 shares valued at approximately $3.19 million.
• Recent earnings showed Amgen reported $6.02 EPS, surpassing analyst estimates of $5.28, with revenues of $9.18 billion for the quarter.
• Amgen announced a quarterly dividend of $2.38 per share, reflecting an annualized dividend of $9.52 and a yield of 3.3%.

First Citizens Bank & Trust Co. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,424 shares of the medical research company's stock after acquiring an additional 1,562 shares during the period. First Citizens Bank & Trust Co.'s holdings in Amgen were worth $3,190,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Paralel Advisors LLC purchased a new position in Amgen during the 2nd quarter valued at about $2,394,000. Bleakley Financial Group LLC lifted its position in Amgen by 20.2% during the 2nd quarter. Bleakley Financial Group LLC now owns 27,313 shares of the medical research company's stock valued at $7,626,000 after acquiring an additional 4,588 shares during the period. Castle Wealth Management LLC raised its holdings in Amgen by 4.8% in the second quarter. Castle Wealth Management LLC now owns 4,012 shares of the medical research company's stock worth $1,120,000 after buying an additional 184 shares during the last quarter. Strategic Blueprint LLC raised its holdings in Amgen by 19.3% in the second quarter. Strategic Blueprint LLC now owns 8,355 shares of the medical research company's stock worth $2,333,000 after buying an additional 1,349 shares during the last quarter. Finally, Ethic Inc. raised its holdings in Amgen by 5.6% in the second quarter. Ethic Inc. now owns 40,440 shares of the medical research company's stock worth $11,207,000 after buying an additional 2,157 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $292.89 on Friday. The company has a 50 day moving average price of $288.02 and a 200-day moving average price of $287.23. 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 $157.68 billion, a PE ratio of 23.95, a P/E/G ratio of 2.62 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.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the business posted $4.97 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

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

Analyst Ratings Changes

AMGN has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a report on Sunday, October 19th. Finally, Piper Sandler lifted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Amgen has a consensus rating of "Hold" and a consensus target price of $300.94.

Insider Transactions at Amgen

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 shares were sold at an average price of $296.99, for a total transaction 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 can be accessed through the SEC website. 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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