Trust Investment Advisors Boosts Stake in Amgen Inc. $AMGN

Trust Investment Advisors increased its stake in Amgen Inc. (NASDAQ:AMGN) by 48.7% in the 2nd quarter, Holdings Channel reports. The fund owned 3,595 shares of the medical research company’s stock after buying an additional 1,178 shares during the quarter. Trust Investment Advisors’ holdings in Amgen were worth $1,004,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position 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 valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Amgen in the first quarter worth approximately $276,000. Golden State Wealth Management LLC grew its position in Amgen by 5.5% during the first quarter. Golden State Wealth Management LLC now owns 1,933 shares of the medical research company’s stock valued at $602,000 after acquiring an additional 101 shares during the last quarter. Root Financial Partners LLC grew its position in Amgen by 16.6% during the first quarter. Root Financial Partners LLC now owns 897 shares of the medical research company’s stock valued at $280,000 after acquiring an additional 128 shares during the last quarter. Finally, Shilanski & Associates Inc. purchased a new position in shares of Amgen during the first quarter worth approximately $235,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other Amgen 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Amgen Stock Down 0.2%

NASDAQ AMGN opened at $291.16 on Tuesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88. The stock has a market capitalization of $156.75 billion, a PE ratio of 23.81, a PEG ratio of 2.61 and a beta of 0.49. 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 business’s 50-day moving average is $287.89 and its 200 day moving average is $287.33.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The business also recently declared 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 was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Raymond James Financial assumed coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. UBS Group cut their price target 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. Morgan Stanley lifted their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Weiss Ratings upgraded Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Bank of America raised their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $300.94.

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.