Zions Bancorporation National Association UT Grows Stock Position in Amgen Inc. $AMGN

Zions Bancorporation National Association UT increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 35,254 shares of the medical research company’s stock after purchasing an additional 3,740 shares during the period. Zions Bancorporation National Association UT’s holdings in Amgen were worth $9,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Amgen in the 1st quarter worth $688,868,000. Federated Hermes Inc. raised its holdings in Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after purchasing an additional 665,555 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 600,096 shares during the period. WoodTrust Financial Corp boosted its holdings in Amgen by 8,223.6% in the 2nd quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after purchasing an additional 588,478 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new position in Amgen during the 2nd quarter worth approximately $156,812,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’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 value 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 represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMGN. Guggenheim raised their price target on Amgen from $288.00 to $305.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on shares of Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $308.83.

Amgen Trading Up 1.5%

Shares of AMGN stock opened at $320.20 on Friday. The stock has a market cap of $172.42 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.61 and a beta of 0.45. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The business has a fifty day simple moving average of $289.94 and a 200-day simple moving average of $288.57.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same period in the prior year, the company earned $5.58 EPS. The firm’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is 73.57%.

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.