Atria Wealth Solutions Inc. Has $12.16 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Amgen Inc. by 14.7%, now holding 39,029 shares valued at approximately $12.16 million.
• A number of other hedge funds increased their positions in Amgen during the fourth quarter, with Capital International Investors raising their holdings by 40.1% to become one of the largest shareholders.
• Amgen reported earnings per share of $6.02 for the recent quarter, exceeding estimates, and has announced a quarterly dividend of $2.38, reflecting a 3.2% yield.

Atria Wealth Solutions Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,029 shares of the medical research company's stock after selling 6,724 shares during the period. Atria Wealth Solutions Inc.'s holdings in Amgen were worth $12,159,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Capital International Investors raised its stake in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Capital World Investors increased its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Northern Trust Corp increased its stake in shares of Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after purchasing an additional 875,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock worth $1,336,647,000 after purchasing an additional 685,785 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Amgen by 20.7% during the fourth quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock worth $1,274,553,000 after purchasing an additional 839,686 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $307.23.

Amgen Trading Up 0.0%

Shares of AMGN stock traded up $0.03 during mid-day trading on Thursday, hitting $284.70. The company's stock had a trading volume of 2,588,846 shares, compared to its average volume of 2,017,625. The company's fifty day simple moving average is $293.20 and its 200-day simple moving average is $292.48. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.88 and a current ratio of 1.31. The company has a market cap of $153.09 billion, a PE ratio of 23.28, a P/E/G ratio of 2.46 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted 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 firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the company posted $4.97 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is presently 77.84%.

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.