Legacy Private Trust Co. Has $2.64 Million Stock Position in Amgen Inc. $AMGN

Key Points

• Legacy Private Trust Co. increased its stake in Amgen Inc. by 13.6%, owning 9,456 shares worth approximately $2.64 million as of the latest SEC filing.
• A diverse group of institutional investors have recently adjusted their positions in Amgen, with 76.50% of the stock currently held by these investors.
• Amgen reported a Q2 EPS of $6.02, exceeding estimates, with revenue growth of 9.4% year-over-year and a quarterly dividend of $2.38 per share.

Legacy Private Trust Co. lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,456 shares of the medical research company's stock after buying an additional 1,134 shares during the quarter. Legacy Private Trust Co.'s holdings in Amgen were worth $2,640,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Amgen by 0.7% in the fourth quarter. Forum Financial Management LP now owns 352,784 shares of the medical research company's stock worth $91,950,000 after buying an additional 2,411 shares during the last quarter. Tema Etfs LLC bought a new stake in shares of Amgen during the 4th quarter worth about $2,914,000. Strive Asset Management LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $652,000. Finally, Strategic Wealth Partners Ltd. raised its stake in shares of Amgen by 1.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 12,491 shares of the medical research company's stock valued at $3,256,000 after acquiring an additional 153 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a "market perform" rating for the company. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler boosted their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Finally, Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $304.43.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $276.39 on Monday. The firm has a market capitalization of $148.80 billion, a PE ratio of 22.60, a PEG ratio of 2.40 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 1-year low of $253.30 and a 1-year high of $339.17. The business's 50 day moving average is $292.54 and its 200-day moving average is $291.56.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its 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. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders 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 dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.69% of the company's stock.

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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