Wesbanco Bank Inc. Raises Stake in Amgen Inc. $AMGN

Wesbanco Bank Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,124 shares of the medical research company’s stock after buying an additional 2,954 shares during the quarter. Wesbanco Bank Inc.’s holdings in Amgen were worth $18,742,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter valued at $25,000. First Pacific Financial grew its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in Amgen in the 4th quarter valued at $26,000. Finally, Activest Wealth Management grew its holdings in Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $276.39 on Friday. The stock has a fifty day simple moving average of $292.54 and a 200-day simple moving average of $291.66. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market cap of $148.80 billion, a PE ratio of 22.60, a P/E/G ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.4%. Amgen’s dividend payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMGN. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating for the company. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Morgan Stanley upped their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a report on Wednesday, July 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $304.43.

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.