Riverview Trust Co Sells 434 Shares of Amgen Inc. $AMGN

Riverview Trust Co decreased its position in Amgen Inc. (NASDAQ:AMGN) by 43.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 572 shares of the medical research company’s stock after selling 434 shares during the quarter. Riverview Trust Co’s holdings in Amgen were worth $160,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMGN. Nuveen LLC bought a new position in Amgen in the first quarter valued at about $688,868,000. Federated Hermes Inc. lifted its holdings in Amgen by 48.5% in the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock valued at $634,680,000 after acquiring an additional 665,555 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Amgen by 128.9% in the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock valued at $332,017,000 after acquiring an additional 600,096 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in Amgen in the second quarter valued at about $156,812,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Amgen by 1,505.3% in the second quarter. Assenagon Asset Management S.A. now owns 518,604 shares of the medical research company’s stock valued at $144,799,000 after acquiring an additional 486,299 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Morgan Stanley raised their price objective on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $309.70.

Amgen Stock Up 5.8%

Shares of AMGN opened at $298.50 on Thursday. The business’s 50 day moving average is $287.74 and its 200 day moving average is $288.64. The company has a market capitalization of $160.70 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.45 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. 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. Research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 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 stock was 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 in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is owned by corporate insiders.

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.