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

PNC Financial Services Group Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the second quarter, Holdings Channel reports. 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.’s holdings in Amgen were worth $282,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMGN. Fairvoy Private Wealth LLC raised its position in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock worth $885,000 after acquiring an additional 35 shares in the last quarter. Nicholson Wealth Management Group LLC increased its stake in shares of Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. lifted its position in Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. boosted its stake in Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after acquiring an additional 36 shares in the last quarter. Finally, Lion Street Advisors LLC grew its holdings in Amgen by 1.3% in the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock worth $774,000 after purchasing an additional 36 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 4.6%

Amgen stock opened at $338.45 on Wednesday. The business has a 50-day simple moving average of $291.69 and a two-hundred day simple moving average of $289.36. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $338.55. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market cap 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.98 billion. During the same quarter last year, the firm posted $5.58 earnings per share. The firm’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. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business 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 $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio is 73.57%.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald upped their price target on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley dropped their price target on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. DZ Bank lifted their target price on shares of Amgen from $335.00 to $364.00 in a report on Monday. Finally, Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen 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.