OLD National Bancorp IN Purchases 13,460 Shares of Amgen Inc. $AMGN

Key Points

• OLD National Bancorp IN significantly increased its holdings in Amgen Inc. by 296.2% in Q2, acquiring 13,460 additional shares, bringing their total ownership to 18,004 shares valued at $5,027,000.
• Amgen reported earnings of $6.02 per share for the last quarter, outperforming analyst expectations, and showed a 9.4% increase in revenue year-over-year.
• The company also declared a quarterly dividend of $2.38 per share, with an annualized yield of 3.2%, reflecting a dividend payout ratio of 77.84%.

OLD National Bancorp IN increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 296.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,004 shares of the medical research company's stock after buying an additional 13,460 shares during the period. OLD National Bancorp IN's holdings in Amgen were worth $5,027,000 at the end of the most recent quarter.

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

Amgen Price Performance

Shares of NASDAQ AMGN opened at $297.89 on Monday. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $160.37 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.59 and a beta of 0.49. The firm's 50 day simple moving average is $287.34 and its 200-day simple moving average is $287.98. 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 results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm 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 for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AMGN. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research report on Friday. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $309.70.

Amgen 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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