Truist Financial Corp Sells 16,871 Shares of Amgen Inc. $AMGN

Key Points

• Truist Financial Corp reduced its stake in Amgen Inc. by selling 16,871 shares, bringing its total holdings to 629,316 shares, valued at approximately $175.7 million.
• Amgen reported $6.02 EPS for the last quarter, surpassing analysts' expectations of $5.28, with revenues of $9.18 billion against a forecast of $8.86 billion.
• The company recently declared a quarterly dividend of $2.38 per share, resulting in an annualized dividend yield of 3.4%.

Truist Financial Corp trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 629,316 shares of the medical research company's stock after selling 16,871 shares during the quarter. Truist Financial Corp owned about 0.12% of Amgen worth $175,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 148,658 shares during the last quarter. Royal Bank of Canada increased its holdings 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 buying an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 243,306 shares during the last quarter. Deutsche Bank AG raised its position 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 valued at $1,017,525,000 after buying an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Amgen by 0.8% during the 1st 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 last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $282.20 on Wednesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market cap of $151.93 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. The business has a 50 day moving average price of $287.95 and a 200-day moving average price of $288.57.

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

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They set a "market perform" rating on the stock. Citigroup raised their price objective on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $309.70.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen Company 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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.