Consolidated Planning Corp Sells 997 Shares of Amgen Inc. $AMGN

Key Points

• Consolidated Planning Corp reduced its shareholding in Amgen Inc. by 18.5%, selling 997 shares to hold a total of 4,380 shares valued at approximately $1.2 million at the end of the second quarter.
• Several institutional investors have increased their investments in Amgen, with Brighton Jones LLC raising its holdings by 23.5% during the fourth quarter.
• Amgen recently announced a quarterly dividend of $2.38 per share, representing an annual yield of 3.2% and a payout ratio of 77.84%.

Consolidated Planning Corp reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,380 shares of the medical research company's stock after selling 997 shares during the period. Consolidated Planning Corp's holdings in Amgen were worth $1,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Merit Financial Group LLC lifted its position in Amgen by 8.6% during the 1st quarter. Merit Financial Group LLC now owns 20,252 shares of the medical research company's stock worth $6,309,000 after acquiring an additional 1,609 shares during the period. RFG Advisory LLC lifted its position in Amgen by 7.6% during the 1st quarter. RFG Advisory LLC now owns 11,129 shares of the medical research company's stock worth $3,467,000 after acquiring an additional 788 shares during the period. Apella Capital LLC lifted its position in Amgen by 3.7% during the 1st quarter. Apella Capital LLC now owns 1,333 shares of the medical research company's stock worth $388,000 after acquiring an additional 48 shares during the period. Finally, SS&H Financial Advisors Inc. lifted its position in Amgen by 1.9% during the 1st quarter. SS&H Financial Advisors Inc. now owns 13,078 shares of the medical research company's stock worth $4,074,000 after acquiring an additional 250 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company's stock, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Bank of America lifted their price target on Amgen from $261.00 to $272.00 and gave the stock an "underperform" rating in a research report on Friday, September 26th. Citigroup boosted their price objective on Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $309.70.

Amgen Stock Up 5.8%

AMGN stock opened at $298.50 on Thursday. The stock has a market capitalization of $160.70 billion, a P/E ratio of 24.41, a PEG ratio of 2.45 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The company has a 50 day moving average price of $287.74 and a two-hundred day moving average price of $288.64.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was 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.

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