US Bancorp DE Sells 21,405 Shares of Amgen Inc. $AMGN

US Bancorp DE trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 709,668 shares of the medical research company’s stock after selling 21,405 shares during the quarter. US Bancorp DE’s holdings in Amgen were worth $198,148,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMGN. Nuveen LLC acquired a new stake in Amgen in the first quarter worth $688,868,000. Federated Hermes Inc. grew its holdings in Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after purchasing an additional 600,096 shares during the period. WoodTrust Financial Corp grew its holdings in Amgen by 8,223.6% in the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock worth $166,307,000 after purchasing an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Amgen in the second quarter worth $156,812,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. UBS Group reduced their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Piper Sandler lifted their price objective on shares of Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.42.

Amgen Stock Down 0.3%

AMGN opened at $294.62 on Thursday. 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 company’s 50-day moving average is $286.90 and its 200 day moving average is $287.93. 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 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 (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s payout ratio is currently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value 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. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.