Hilltop National Bank Has $1.04 Million Position in Amgen Inc. $AMGN

Key Points

• Hilltop National Bank reduced its Amgen stake by 58.3% in the second quarter, selling 3,993 shares and retaining 2,860 shares valued at approximately $1.04 million.
• Amgen shares opened at $378.87, while institutional investors and hedge funds collectively own 76.5% of the company. Analysts maintain a consensus “Hold” rating with an average price target of $357.
• Amgen declared a quarterly dividend of $2.52 per share, equivalent to an annualized $10.08 payout and a 2.7% yield. Investors are also monitoring a reported data breach involving patient and proprietary information, which could create regulatory, legal and reputational risks.

Hilltop National Bank cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 58.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,860 shares of the medical research company's stock after selling 3,993 shares during the quarter. Hilltop National Bank's holdings in Amgen were worth $1,036,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter worth about $2,164,162,000. Capital World Investors lifted its holdings in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. State Street Corp boosted its position in Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock valued at $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC boosted its position in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Finally, Amundi boosted its position in Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company's stock valued at $1,111,854,000 after buying an additional 988,856 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 1.6%

AMGN opened at $378.87 on Tuesday. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $398.00. The stock has a market capitalization of $204.48 billion, a PE ratio of 26.37, a PEG ratio of 3.90 and a beta of 0.41. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The firm has a 50-day moving average price of $357.39 and a two-hundred day moving average price of $354.35.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio is 70.15%.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s second-quarter outlook calls for newer medicines to offset declines in parts of its legacy portfolio. Analysts are also assessing whether the company can exceed quarterly earnings expectations, which could support the shares if management delivers strong results or raises its outlook. Amgen Q2 preview: growth from newer drugs to offset legacy portfolio declines Are These 5 Pharma Stocks Set to Surpass Q2 Earnings Forecasts?
• Positive Sentiment: An early-stage AMG 127 study signals Amgen’s expansion into type 2 diabetes, potentially opening another large market. However, the program remains preliminary and is not yet a near-term revenue driver. Amgen’s AMG 127 Trial Signals a New Push Into Type 2 Diabetes
• Neutral Sentiment: Amgen obtained a license to Kaléo’s patented auto-injector technology. The deal could improve drug-device capabilities and patient convenience, but financial terms were undisclosed, limiting its immediate valuation impact. Kaléo Announces License Agreement with Amgen for Auto-Injector Technology
• Negative Sentiment: Amgen is investigating a data breach involving patient health information and proprietary company data. The scope and consequences remain unclear, but potential regulatory costs, litigation, remediation expenses and reputational damage are significant risks. This appears to be the principal near-term overhang ahead of earnings. Amgen contends with data breach, exposing patient information Amgen reveals material cyber breach with patient data stolen

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. Truist Financial raised their price objective on shares of Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Piper Sandler reissued an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Weiss Ratings lowered Amgen from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada reaffirmed a "positive" rating on shares of Amgen in a report on Thursday, June 18th. Finally, Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $357.00.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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