Iowa State Bank lowered its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,855 shares of the medical research company’s stock after selling 191 shares during the period. Iowa State Bank’s holdings in Amgen were worth $2,752,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Amgen during the first quarter worth about $688,868,000. Federated Hermes Inc. raised its stake in shares of Amgen by 48.5% during the 1st 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 in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Amgen by 128.9% during the 1st 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 in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at approximately $156,812,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Amgen by 1,505.3% in the second quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock valued at $144,799,000 after buying an additional 486,299 shares in the last quarter. 76.50% of the stock is owned by institutional investors.
Insider Activity at Amgen
In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.
Amgen Stock Performance
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, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the business posted $4.97 EPS. 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. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. 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 presently 77.84%.
Analyst Ratings Changes
Several analysts have issued reports on AMGN shares. Raymond James Financial assumed coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Citigroup lifted 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. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $309.70.
Get Our Latest Stock Analysis on Amgen
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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