OLD Point Trust & Financial Services N A Sells 1,278 Shares of Amgen Inc. $AMGN

Key Points

• OLD Point Trust & Financial Services N A reduced its stake in Amgen Inc. by 5.3%, selling 1,278 shares, which now represents about 2.2% of its portfolio, valued at approximately $6.42 million.
• Amgen reported strong quarterly earnings with an EPS of $6.02, surpassing estimates and showing a 9.4% year-over-year revenue increase, totaling $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, yielding around 3.4%, with a payout ratio of 77.84% and recent analyst ratings indicating a mixed outlook on the stock.

OLD Point Trust & Financial Services N A trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,991 shares of the medical research company's stock after selling 1,278 shares during the period. Amgen makes up about 2.2% of OLD Point Trust & Financial Services N A's portfolio, making the stock its 17th biggest position. OLD Point Trust & Financial Services N A's holdings in Amgen were worth $6,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AMGN. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in 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 period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Amgen by 1,214.3% in 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 period. Activest Wealth Management raised its holdings in shares of Amgen by 3,433.3% in 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 period. Finally, Nova Wealth Management Inc. raised its holdings in shares of Amgen by 12,200.0% in 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 period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Up 3.0%

AMGN opened at $282.20 on Wednesday. The stock's fifty day moving average is $287.95 and its two-hundred day moving average is $288.57. The company has a market capitalization of $151.93 billion, a P/E ratio of 23.07, a PEG ratio of 2.38 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a report on Friday, September 26th. UBS Group reduced their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $309.70.

Insider Transactions at Amgen

In other Amgen 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 transaction of $376,286.33. Following the sale, the senior vice president owned 7,209 shares of the company's stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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