Nations Financial Group Inc. IA ADV Sells 1,805 Shares of Amgen Inc. $AMGN

Key Points

• Nations Financial Group Inc. IA ADV has decreased its stock position in Amgen Inc. by 9.7% during the first quarter, holding 16,716 shares valued at approximately $5.2 million.
• Wall Street analysts maintain a consensus rating of "Hold" for Amgen, with an average price target of $303.76 and some firms adjusting their price objectives upwards.
• Amgen announced a quarterly dividend of $2.38 per share, representing an annualized dividend yield of 3.3%, with a dividend payout ratio of 77.84%.

Nations Financial Group Inc. IA ADV lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,716 shares of the medical research company's stock after selling 1,805 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Amgen were worth $5,208,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AMGN. Pinney & Scofield Inc. acquired a new position in Amgen during the fourth quarter worth $26,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Amgen during the 4th quarter valued at about $36,000. South Plains Financial Inc. acquired a new position in Amgen during the 4th quarter valued at about $37,000. Finally, Global Wealth Strategies & Associates boosted its stake in Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

Amgen stock traded up $2.93 during mid-day trading on Tuesday, hitting $295.55. 1,854,726 shares of the company traded hands, compared to its average volume of 2,862,550. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The stock has a market cap of $159.11 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.55 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. The stock has a fifty day moving average price of $293.35 and a 200-day moving average price of $293.15.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its 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 analyst estimates 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 business posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. Morgan Stanley lifted their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $303.76.

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.