Arlington Financial Advisors LLC Sells 1,363 Shares of Amgen Inc. $AMGN

Key Points

• Arlington Financial Advisors LLC reduced its stake in Amgen Inc. by 5.2% during the 2nd quarter, now holding 24,884 shares valued at approximately $6.95 million.
• Amgen's recent quarterly earnings reported $6.02 EPS, surpassing analyst expectations, with a revenue increase of 9.4% year-over-year.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.2%, with a payout ratio of 77.84%.

Arlington Financial Advisors LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,884 shares of the medical research company's stock after selling 1,363 shares during the quarter. Amgen makes up about 1.1% of Arlington Financial Advisors LLC's investment portfolio, making the stock its 24th largest position. Arlington Financial Advisors LLC's holdings in Amgen were worth $6,948,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Fairvoy Private Wealth LLC boosted its holdings in Amgen by 1.1% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock valued at $885,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. boosted its holdings in Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. boosted its holdings in Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after acquiring an additional 36 shares during the period. Lion Street Advisors LLC boosted its holdings in Amgen by 1.3% during the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company's stock valued at $774,000 after acquiring an additional 36 shares during the period. Finally, Accredited Investors Inc. boosted its holdings in Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMGN. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Morgan Stanley increased 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 target price on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Finally, UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and an average price target of $309.42.

Amgen Trading Up 0.5%

NASDAQ AMGN opened at $293.85 on Wednesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a 50 day simple moving average of $286.46 and a two-hundred day simple moving average of $287.37. The stock has a market cap of $158.20 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share 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 business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the business posted $4.97 EPS. The business'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. On average, analysts forecast 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. Stockholders of record on Friday, August 22nd were given a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio is currently 77.84%.

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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