Horizon Bancorp Inc. IN Purchases New Shares in Amgen Inc. $AMGN

Key Points

• Horizon Bancorp Inc. has acquired a new stake in Amgen Inc., purchasing 950 shares valued at approximately $265,000 during the second quarter.
• Amgen recently reported strong quarterly earnings, with an EPS of $6.02, surpassing analysts' expectations, and revenue growth of 9.4% compared to the previous year.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.2%, with a dividend payout ratio currently standing at 77.84%.

Horizon Bancorp Inc. IN purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 950 shares of the medical research company's stock, valued at approximately $265,000.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after purchasing an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Amgen by 1.6% during the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock valued at $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Amgen by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company's stock worth $940,989,000 after acquiring an additional 22,820 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction 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 $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 0.3%

Shares of AMGN opened at $295.43 on Friday. The firm has a 50 day moving average price of $286.91 and a 200-day moving average price of $287.79. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $159.05 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 2.56 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the prior year, the business posted $4.97 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several brokerages have commented on AMGN. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley boosted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Weiss Ratings raised shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Bank of America lifted their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus 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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