First Fiduciary Investment Counsel Inc. Buys 1,069 Shares of Amgen Inc. $AMGN

Key Points

• First Fiduciary Investment Counsel Inc. increased its stake in Amgen Inc. by 6.6%, acquiring an additional 1,069 shares during the second quarter, bringing its total holdings to 17,245 shares valued at approximately $4.82 million.
• Several institutional investors, including Federated Hermes Inc. and Nuveen LLC, have either increased their stakes or made new investments in Amgen, indicating strong institutional interest in the company.
• Amgen recently reported a quarterly EPS of $6.02, exceeding estimates by $0.74, with a revenue of $9.18 billion during the quarter, reflecting a 9.4% year-over-year increase.

First Fiduciary Investment Counsel Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,245 shares of the medical research company's stock after acquiring an additional 1,069 shares during the quarter. First Fiduciary Investment Counsel Inc.'s holdings in Amgen were worth $4,815,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Nuveen LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $688,868,000. Federated Hermes Inc. boosted its holdings in shares of Amgen by 48.5% during the 1st quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company's stock valued at $634,680,000 after acquiring an additional 665,555 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Amgen by 128.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company's stock valued at $332,017,000 after acquiring an additional 600,096 shares during the last quarter. WoodTrust Financial Corp boosted its holdings in shares of Amgen by 8,223.6% during the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company's stock valued at $166,307,000 after acquiring an additional 588,478 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at about $156,812,000. 76.50% of the stock is currently owned by institutional investors.

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 transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Amgen Trading Down 1.8%

Shares of NASDAQ:AMGN opened at $290.13 on Friday. The stock has a 50 day moving average of $286.77 and a 200 day moving average of $287.68. The company has a market cap of $156.19 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.56 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 EPS. 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 EPS for the current year.

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Weiss Ratings upgraded Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $309.42.

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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