Amgen Inc. $AMGN Shares Sold by Ascent Group LLC

Key Points

• Ascent Group LLC significantly reduced its stake in Amgen by 55.9%, now owning 6,591 shares valued at approximately $1.84 million as of its latest SEC filing.
• Amgen reported earnings of $6.02 per share for its latest quarter, surpassing analysts' expectations and achieving a 9.4% year-over-year revenue increase.
• The company's recent quarterly dividend was $2.38 per share, which translates to an annualized dividend of $9.52 and a yield of 3.2%.

Ascent Group LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 55.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,591 shares of the medical research company's stock after selling 8,348 shares during the quarter. Ascent Group LLC's holdings in Amgen were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Wealth Preservation Advisors LLC acquired a new stake in Amgen in the 1st quarter valued at approximately $25,000. First Pacific Financial increased its position 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 acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its position 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 acquiring an additional 85 shares during the period. Activest Wealth Management increased its position 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 acquiring an additional 103 shares during the period. Finally, Nova Wealth Management Inc. increased its position in Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock valued at $38,000 after acquiring an additional 122 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN opened at $297.89 on Friday. The stock has a fifty day moving average of $287.34 and a 200-day moving average of $288.17. The firm has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a PEG ratio of 2.59 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. 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 (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is currently 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMGN. Citigroup raised their target price on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a research report on Wednesday, September 24th. Weiss Ratings restated a "hold (c+)" rating on shares of Amgen in a research report on Saturday, September 27th. Raymond James Financial assumed coverage on Amgen in a research report on Wednesday, September 3rd. They issued a "market perform" rating on the stock. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and a consensus target price of $309.70.

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.

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