Amgen Inc. $AMGN Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.9%, owning 57,933 shares worth approximately $16.2 million after selling 1,098 shares in the second quarter.
• Amgen reported $6.02 EPS for the last quarter, exceeding analysts' expectations of $5.28, with quarterly revenue of $9.18 billion, up 9.4% year-over-year.
• The company declared a quarterly dividend of $2.38 per share, representing an annualized dividend of $9.52 and a yield of 3.2%.

ARK Investment Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,933 shares of the medical research company's stock after selling 1,098 shares during the period. ARK Investment Management LLC's holdings in Amgen were worth $16,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Amgen in the 1st quarter valued at about $25,000. First Pacific Financial lifted its stake in shares of 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 purchasing an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in shares of 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 purchasing an additional 85 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Amgen by 3,433.3% during 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 during the period. Finally, Nova Wealth Management Inc. raised its holdings in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after buying an additional 122 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% of the company's stock.

Amgen Price Performance

AMGN stock opened at $301.14 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $335.88. The stock's 50 day moving average is $287.83 and its two-hundred day moving average is $287.15. The company has a market capitalization of $162.12 billion, a PE ratio of 24.62, a P/E/G ratio of 2.68 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the business earned $4.97 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

Analyst Ratings Changes

AMGN has been the topic of several analyst reports. Bank of America raised their target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a report on Sunday. Raymond James Financial initiated coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating on the stock. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $300.94.

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.

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