Exchange Traded Concepts LLC Sells 1,358 Shares of Amgen Inc. $AMGN

Key Points

• Exchange Traded Concepts LLC has reduced its stake in Amgen Inc. by 19.5%, selling 1,358 shares and holding a total of 5,619 shares valued at $1,569,000.
• Several analysts have varied perspectives on Amgen's stock, with price targets ranging from $261.00 to $342.00, and an average consensus rating of "Hold."
• Amgen recently declared a quarterly dividend of $2.38 per share, representing an annual yield of 3.3% and a payout ratio of 77.84%.

Exchange Traded Concepts LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,619 shares of the medical research company's stock after selling 1,358 shares during the period. Exchange Traded Concepts LLC's holdings in Amgen were worth $1,569,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Fulton Bank N.A. raised its holdings in shares of Amgen by 2.2% in the second quarter. Fulton Bank N.A. now owns 17,992 shares of the medical research company's stock worth $5,024,000 after buying an additional 381 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Amgen by 0.6% in the second quarter. NorthCrest Asset Manangement LLC now owns 102,549 shares of the medical research company's stock worth $30,584,000 after buying an additional 637 shares during the period. Community Trust & Investment Co. raised its holdings in shares of Amgen by 1.9% in the second quarter. Community Trust & Investment Co. now owns 11,288 shares of the medical research company's stock worth $3,152,000 after buying an additional 214 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Amgen by 3.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 399,185 shares of the medical research company's stock worth $119,053,000 after buying an additional 14,017 shares during the period. Finally, Atticus Wealth Management LLC raised its holdings in shares of Amgen by 474.6% in the second quarter. Atticus Wealth Management LLC now owns 655 shares of the medical research company's stock worth $183,000 after buying an additional 541 shares during the period. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AMGN. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Bank of America raised their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Citigroup raised their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Amgen presently has an average rating of "Hold" and a consensus price target of $304.43.

Amgen Stock Performance

Shares of AMGN opened at $285.41 on Monday. The stock has a 50-day moving average of $290.57 and a two-hundred day moving average of $290.29. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. 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 market cap of $153.65 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.48 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the firm posted $4.97 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen's payout ratio is currently 77.84%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company's stock.

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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