Fragasso Financial Advisors Inc Sells 1,134 Shares of Amgen Inc. $AMGN

Fragasso Financial Advisors Inc decreased its position in Amgen Inc. (NASDAQ:AMGN) by 6.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,486 shares of the medical research company’s stock after selling 1,134 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Amgen were worth $4,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Continuum Advisory LLC grew its stake in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its stake in 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. lifted its holdings 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 purchasing an additional 36 shares in the last quarter. Affinity Capital Advisors LLC boosted its position in shares of Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after purchasing an additional 37 shares during the period. Finally, Accredited Investors Inc. increased its stake in shares of Amgen by 1.7% in the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 0.7%

Shares of NASDAQ AMGN opened at $274.40 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The firm has a market capitalization of $147.73 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.40 and a beta of 0.49. The stock has a 50 day moving average price of $292.17 and a 200 day moving average price of $291.33. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

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. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. Amgen’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AMGN shares. Morgan Stanley lifted their target price on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Bank of America raised their price target on Amgen from $252.00 to $261.00 and gave the company 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 research report on Saturday, August 9th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $304.43.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

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.