Truist Financial Corp Has $214.32 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Truist Financial Corp boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.2% during the 2nd quarter, according to the company in its most recent 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 owned 0.13% of Amgen worth $214,324,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter worth about $26,000. Horizon Financial Services LLC bought a new position in Amgen in the 1st quarter valued at $28,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at $30,000. nVerses Capital LLC bought a new stake in shares of Amgen during the 2nd quarter worth $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Amgen in the 2nd quarter worth about $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $322.21 on Tuesday. The company has a market capitalization of $172.84 billion, a P/E ratio of 46.03, a PEG ratio of 2.98 and a beta of 0.61. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a 50 day moving average price of $328.49 and a two-hundred day moving average price of $308.12.

Amgen (NASDAQ:AMGN) last posted 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). The firm had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.00 earnings per share. Analysts expect that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Friday. They set an “overweight” rating and a $405.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 price target (up previously from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.