Franklin Street Advisors Inc. NC Sells 21,044 Shares of Amgen Inc. $AMGN

Key Points

• Franklin Street Advisors Inc. NC reduced its holdings in Amgen Inc. by 86.2%, selling 21,044 shares and retaining only 3,378 shares valued at approximately $943,000.
• Amgen reported a strong earnings quarter with an EPS of $6.02, exceeding consensus estimates, and its revenue increased by 9.4% year-over-year to $9.18 billion.
• Amgen declared a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.2% and a payout ratio of 77.84%.

Franklin Street Advisors Inc. NC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 86.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,378 shares of the medical research company's stock after selling 21,044 shares during the period. Franklin Street Advisors Inc. NC's holdings in Amgen were worth $943,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Octavia Wealth Advisors LLC increased its stake in shares of Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. increased its stake 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 acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. increased its stake 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 acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC increased its stake in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. increased its stake 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 acquiring an additional 37 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.2%

Shares of AMGN opened at $297.89 on Friday. The company has a market capitalization of $160.37 billion, a P/E ratio of 24.36, a PEG ratio of 2.58 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The business's 50 day simple moving average is $287.34 and its 200-day simple moving average is $288.36.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the previous year, the business earned $4.97 EPS. Amgen'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, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. Amgen's dividend payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. Bank of America boosted their price target on Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. UBS Group decreased 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. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Friday. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set 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, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $309.70.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction 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 transaction, the senior vice president owned 7,209 shares of the company's stock, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

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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