Janney Montgomery Scott LLC Sells 24,724 Shares of Amgen Inc. $AMGN

Key Points

• Janney Montgomery Scott LLC reduced its stake in Amgen Inc. by 6.0%, selling 24,724 shares and retaining approximately 386,838 shares valued at $108 million as of the end of the second quarter.
• Amgen reported earnings of $6.02 per share for the quarter, exceeding estimates by $0.74, with revenue of $9.18 billion, reflecting a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $2.38, yielding 3.5%, and maintains a payout ratio of 77.84% as of the last payment on September 12th.

Janney Montgomery Scott LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,838 shares of the medical research company's stock after selling 24,724 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of Amgen worth $108,009,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Octavia Wealth Advisors LLC boosted its stake in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the period. Crumly & Associates Inc. boosted its stake in shares of Amgen by 3.2% during the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock worth $320,000 after acquiring an additional 36 shares during the period. Maryland Capital Advisors Inc. boosted its stake in shares of Amgen by 5.2% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock worth $204,000 after acquiring an additional 36 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. boosted its stake in shares of Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the business's stock in a transaction that occurred 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMGN shares. Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Piper Sandler boosted 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. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $309.70.

Amgen Trading Up 0.4%

Shares of AMGN stock opened at $273.97 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The stock has a market cap of $147.49 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.37 and a beta of 0.49. The stock has a 50 day simple moving average of $288.42 and a 200 day simple moving average of $288.61. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, August 22nd. Amgen's payout ratio is 77.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.