PNC Financial Services Group Inc. Sells 14,067 Shares of Amgen Inc. $AMGN

PNC Financial Services Group Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,010,085 shares of the medical research company’s stock after selling 14,067 shares during the quarter. PNC Financial Services Group Inc. owned about 0.19% of Amgen worth $282,026,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the first quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares in the last quarter. Finally, Quaker Wealth Management LLC boosted its position in shares of Amgen by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 4.6%

Shares of Amgen stock opened at $338.45 on Wednesday. The stock has a market capitalization of $182.25 billion, a P/E ratio of 27.67, a P/E/G ratio of 2.61 and a beta of 0.45. The stock’s 50-day simple moving average is $291.69 and its 200 day simple moving average is $289.36. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $338.55. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last released 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 company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same period last year, the business earned $5.58 earnings per share. Amgen’s revenue was up 12.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s payout ratio is presently 73.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction dated 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 $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMGN shares. Raymond James Financial began coverage on shares of Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Guggenheim lifted their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Cantor Fitzgerald boosted their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $307.94.

Amgen Company Profile

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.