6,611 Amgen Inc. $AMGN Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its stake in Amgen Inc. (NASDAQ:AMGN) by 68.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 16,328 shares of the medical research company’s stock after purchasing an additional 6,611 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Amgen were worth $6,882,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares during the last quarter. State Street Corp boosted its stake in Amgen by 38.2% in the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amgen by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock worth $1,952,156,000 after purchasing an additional 605,928 shares in the last quarter. Bank of America Corp DE purchased a new stake in Amgen during the 2nd quarter valued at about $1,831,903,000. Finally, Invesco Ltd. grew its position in Amgen by 7.2% during the 4th quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company’s stock valued at $1,567,311,000 after purchasing an additional 321,173 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Scotiabank lifted their target price on shares of Amgen from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Truist Financial upped their target price on shares of Amgen from $362.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. HSBC cut shares of Amgen from a “buy” rating to a “hold” rating and cut their price target for the company from $445.00 to $425.00 in a report on Thursday, September 10th. Finally, UBS Group increased their price target on shares of Amgen from $430.00 to $470.00 and gave the company a “buy” rating in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $387.93.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Amgen Stock Down 1.1%

AMGN stock opened at $412.84 on Wednesday. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The business has a fifty day moving average price of $414.16 and a 200-day moving average price of $373.24. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The stock has a market capitalization of $223.19 billion, a P/E ratio of 25.66, a P/E/G ratio of 3.01 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same period in the prior year, the company posted $6.02 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts forecast that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were given a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen’s payout ratio is 62.65%.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.