Amgen Inc. $AMGN Shares Acquired by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. increased its stake in Amgen Inc. by 4.6% during the second quarter, bringing its total holdings to 67,124 shares valued at approximately $18.74 million.
• Amgen reported a strong earnings performance, with $6.02 EPS for the last quarter, exceeding analyst expectations of $5.28 and reflecting a 9.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $2.38 per share, with a current yield of 3.4% and a payout ratio of 77.84%.

Wesbanco Bank Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,124 shares of the medical research company's stock after purchasing an additional 2,954 shares during the period. Wesbanco Bank Inc.'s holdings in Amgen were worth $18,742,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC raised its position in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. raised its holdings in Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after acquiring an additional 36 shares during the last quarter. Affinity Capital Advisors LLC lifted its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the period. Finally, Accredited Investors Inc. boosted its holdings in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.6%

Amgen stock traded up $1.63 during trading on Wednesday, reaching $274.71. 1,748,768 shares of the company's stock were exchanged, compared to its average volume of 1,909,795. The company's 50-day moving average is $291.69 and its two-hundred day moving average is $291.20. 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 52-week low of $253.30 and a 52-week high of $339.17. The firm has a market cap of $147.89 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.37 and a beta of 0.49.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.5%. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Bank of America raised their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Citigroup boosted their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Morgan Stanley lifted their price target on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and an average target price of $304.43.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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 in the company, valued at approximately $2,141,000.91. This represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.76% of the company's stock.

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.