First Merchants Corp Has $2.91 Million Stock Position in Amgen Inc. $AMGN

Key Points

• First Merchants Corp has reduced its stake in Amgen Inc. by 12.2%, now owning 10,434 shares valued at approximately $2.91 million as of the latest SEC filing.
• In the second quarter, several institutional investors notably increased their holdings in Amgen, with CBIZ Investment Advisory Services growing its position by over 1,200%.
• Amgen reported earnings of $6.02 per share, surpassing analyst expectations, and announced a quarterly dividend with a yield of 3.2%.

First Merchants Corp lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,434 shares of the medical research company's stock after selling 1,450 shares during the quarter. First Merchants Corp's holdings in Amgen were worth $2,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen in the first quarter valued at about $25,000. First Pacific Financial increased its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after buying an additional 85 shares during the last quarter. Activest Wealth Management increased its position in Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after buying an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. increased its position in Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 0.3%

Shares of AMGN stock opened at $294.62 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market cap of $158.61 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The stock has a 50 day simple moving average of $286.90 and a 200 day simple moving average of $287.93. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business 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 firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period 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. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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%.

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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMGN. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Weiss Ratings raised Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Piper Sandler boosted their price target on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Finally, William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $309.42.

About Amgen

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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