Atria Wealth Solutions Inc. Decreases Position in Amgen Inc. $AMGN

Atria Wealth Solutions Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 70.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,385 shares of the medical research company’s stock after selling 27,644 shares during the period. Atria Wealth Solutions Inc.’s holdings in Amgen were worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. raised its position in Amgen by 0.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 53,433 shares of the medical research company’s stock valued at $14,919,000 after purchasing an additional 264 shares during the period. Oregon Public Employees Retirement Fund raised its position in Amgen by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 46,418 shares of the medical research company’s stock valued at $12,960,000 after purchasing an additional 300 shares during the period. Astoria Portfolio Advisors LLC. raised its position in Amgen by 12.2% during the second quarter. Astoria Portfolio Advisors LLC. now owns 1,601 shares of the medical research company’s stock valued at $494,000 after purchasing an additional 174 shares during the period. Concord Asset Management LLC VA raised its position in Amgen by 8.0% during the second quarter. Concord Asset Management LLC VA now owns 9,467 shares of the medical research company’s stock valued at $2,643,000 after purchasing an additional 705 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Amgen by 5.3% during the second quarter. Sequoia Financial Advisors LLC now owns 157,027 shares of the medical research company’s stock valued at $43,844,000 after purchasing an additional 7,966 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen 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 directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial assumed coverage on Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Bank of America increased their price target on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. Morgan Stanley increased their price target on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler increased their price target on Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus price target of $309.42.

Amgen Trading Up 0.5%

Shares of NASDAQ AMGN opened at $293.85 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business has a fifty day simple moving average of $286.46 and a two-hundred day simple moving average of $287.37. The firm has a market cap of $158.20 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced 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 3.2%. 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.