Equitable Trust Co. Has $1.39 Million Holdings in Amgen Inc. $AMGN

Equitable Trust Co. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 4,991 shares of the medical research company’s stock after buying an additional 150 shares during the period. Equitable Trust Co.’s holdings in Amgen were worth $1,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Amgen by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock worth $3,662,000 after acquiring an additional 3,369 shares during the period. Acropolis Investment Management LLC lifted its holdings in shares of Amgen by 7.8% during the 1st quarter. Acropolis Investment Management LLC now owns 1,097 shares of the medical research company’s stock worth $342,000 after acquiring an additional 79 shares during the period. Mission Wealth Management LP lifted its holdings in shares of Amgen by 5.0% during the 1st quarter. Mission Wealth Management LP now owns 10,991 shares of the medical research company’s stock worth $3,424,000 after acquiring an additional 528 shares during the period. Finally, Blackston Financial Advisory Group LLC lifted its holdings in shares of Amgen by 8.5% during the 1st quarter. Blackston Financial Advisory Group LLC now owns 1,148 shares of the medical research company’s stock worth $358,000 after acquiring an additional 90 shares during the period. Institutional investors 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. 0.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on AMGN shares. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $309.42.

Amgen Price Performance

AMGN stock opened at $293.85 on Wednesday. The company has a fifty day moving average price of $286.46 and a 200-day moving average price of $287.37. The company has a market capitalization of $158.20 billion, a P/E ratio of 24.03, a PEG ratio of 2.54 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) 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%.

About Amgen

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.