Truist Financial Corp Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Truist Financial Corp raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 685,948 shares of the medical research company’s stock after acquiring an additional 51,795 shares during the quarter. Truist Financial Corp’s holdings in Amgen were worth $214,324,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Grassi Investment Management purchased a new stake in Amgen in the first quarter worth $2,283,000. Public Employees Retirement System of Ohio lifted its position in Amgen by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after acquiring an additional 4,376 shares during the period. Meyer Handelman Co. boosted its stake in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after acquiring an additional 8,700 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after purchasing an additional 57 shares during the period. Finally, Novak & Powell Financial Services Inc. bought a new position in shares of Amgen during the fourth quarter valued at approximately $803,000. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 0.1 %

NASDAQ:AMGN opened at $322.21 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The firm has a market capitalization of $172.84 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The business has a fifty day moving average price of $328.49 and a 200-day moving average price of $308.12.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the previous year, the company earned $5.00 EPS. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. Amgen’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Argus raised their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Morgan Stanley lowered their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen 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.