Hilltop National Bank Sells 3,993 Shares of Amgen Inc. $AMGN

Hilltop National Bank lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 58.3% in the second quarter, HoldingsChannel reports. The fund owned 2,860 shares of the medical research company’s stock after selling 3,993 shares during the period. Hilltop National Bank’s holdings in Amgen were worth $1,036,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Dogwood Wealth Management LLC increased its position in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares during the period. Anfield Capital Management LLC lifted its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Tower View Wealth Management LLC lifted its position in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Manning & Napier Advisors LLC boosted its stake in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new position in shares of Amgen in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings cut shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 15th. Barclays upped their target price on shares of Amgen from $350.00 to $360.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Erste Group Bank restated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Finally, Daiwa Securities Group decreased their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $357.00.

Amgen Stock Down 1.6%

Amgen stock opened at $378.87 on Tuesday. The company’s 50 day simple moving average is $357.39 and its 200 day simple moving average is $354.35. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $398.00. The firm has a market capitalization of $204.48 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.90 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.7%. Amgen’s dividend payout ratio (DPR) is 70.15%.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen’s second-quarter outlook calls for newer medicines to offset declines in parts of its legacy portfolio. Analysts are also assessing whether the company can exceed quarterly earnings expectations, which could support the shares if management delivers strong results or raises its outlook. Amgen Q2 preview: growth from newer drugs to offset legacy portfolio declines Are These 5 Pharma Stocks Set to Surpass Q2 Earnings Forecasts?
• Positive Sentiment: An early-stage AMG 127 study signals Amgen’s expansion into type 2 diabetes, potentially opening another large market. However, the program remains preliminary and is not yet a near-term revenue driver. Amgen’s AMG 127 Trial Signals a New Push Into Type 2 Diabetes
• Neutral Sentiment: Amgen obtained a license to Kaléo’s patented auto-injector technology. The deal could improve drug-device capabilities and patient convenience, but financial terms were undisclosed, limiting its immediate valuation impact. Kaléo Announces License Agreement with Amgen for Auto-Injector Technology
• Negative Sentiment: Amgen is investigating a data breach involving patient health information and proprietary company data. The scope and consequences remain unclear, but potential regulatory costs, litigation, remediation expenses and reputational damage are significant risks. This appears to be the principal near-term overhang ahead of earnings. Amgen contends with data breach, exposing patient information Amgen reveals material cyber breach with patient data stolen

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.