US Bancorp DE Has $198.15 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• US Bancorp DE reduced its stake in Amgen Inc. by 2.9%, now holding $198.15 million in shares after selling 21,405 during the second quarter.
• Amgen's recent quarterly earnings beat expectations, with an EPS of $6.02 and a revenue of $9.18 billion, marking a 9.4% year-over-year increase.
• The company announced a quarterly dividend of $2.38 per share, representing an annualized yield of 3.2%.

US Bancorp DE decreased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 709,668 shares of the medical research company's stock after selling 21,405 shares during the period. US Bancorp DE owned about 0.13% of Amgen worth $198,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $25,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Activest Wealth Management lifted its stake in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after purchasing an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMGN has been the subject of several research reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Morgan Stanley increased 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. Piper Sandler increased their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $309.42.

Amgen Price Performance

AMGN stock opened at $294.62 on Thursday. The company has a fifty day moving average price of $286.90 and a 200-day moving average price of $287.93. The company has a market capitalization of $158.61 billion, a P/E ratio of 24.09, a PEG ratio of 2.57 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 debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) 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 the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities 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. Investors of record on Friday, August 22nd were paid 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 of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

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.

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