TCV Trust & Wealth Management Inc. Lowers Stock Holdings in Amgen Inc. $AMGN

TCV Trust & Wealth Management Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,158 shares of the medical research company’s stock after selling 70 shares during the period. Amgen comprises 1.4% of TCV Trust & Wealth Management Inc.’s holdings, making the stock its 22nd biggest holding. TCV Trust & Wealth Management Inc.’s holdings in Amgen were worth $15,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after purchasing an additional 148,658 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Amgen by 6.0% during the 1st quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock worth $1,521,339,000 after acquiring an additional 274,488 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock worth $1,387,695,000 after purchasing an additional 243,306 shares during the last quarter. GAMMA Investing LLC grew its position in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock worth $1,017,525,000 after purchasing an additional 52,734 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.4%

NASDAQ AMGN opened at $275.83 on Friday. The firm has a 50 day simple moving average of $290.76 and a 200-day simple moving average of $290.85. 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 one year low of $253.30 and a one year high of $339.17. The firm has a market cap of $148.50 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.39 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued 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 3.5%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other Amgen 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 transaction 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. This trade represents a 14.95% decrease in their ownership of the stock. The transaction 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.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Bank of America upped their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a report on Wednesday, July 23rd. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Citigroup upped their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. UBS Group reduced their target price on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Piper Sandler raised their price objective on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $304.43.

Amgen 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.