Atria Wealth Solutions Inc. Sells 27,644 Shares of Amgen Inc. $AMGN

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Amgen Inc. by 70.8%, selling 27,644 shares and leaving them with 11,385 shares valued at approximately $3.2 million.
• Amgen reported strong quarterly earnings with an EPS of $6.02, exceeding analyst expectations of $5.28, and revenue of $9.18 billion, up 9.4% year-over-year.
• The company recently announced a dividend of $2.38 per share, representing a yield of 3.2% with a payout ratio of 77.84%.

Atria Wealth Solutions Inc. lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 70.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,385 shares of the medical research company's stock after selling 27,644 shares during the period. Atria Wealth Solutions Inc.'s holdings in Amgen were worth $3,207,000 at the end of the most recent reporting period.

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

Amgen Stock Performance

NASDAQ AMGN opened at $293.85 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. The firm has a market cap of $158.20 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88. The business has a 50-day moving average price of $286.46 and a 200-day moving average price of $287.37.

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

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were given 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 currently 77.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Morgan Stanley boosted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Raymond James Financial began coverage on Amgen in a report on Wednesday, September 3rd. They set a "market perform" rating for the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. UBS Group dropped their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. Eight equities 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 company. Based on data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus target price of $309.42.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company's stock.

About Amgen

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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