GraniteShares Advisors LLC Sells 52 Shares of Amgen Inc. (NASDAQ:AMGN)

GraniteShares Advisors LLC lessened its position in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 1,567 shares of the medical research company’s stock after selling 52 shares during the period. GraniteShares Advisors LLC’s holdings in Amgen were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Strategic Investment Solutions Inc. IL bought a new position in Amgen in the first quarter valued at $28,000. PrairieView Partners LLC grew its stake in shares of Amgen by 250.0% during the second quarter. PrairieView Partners LLC now owns 140 shares of the medical research company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. Lumature Wealth Partners LLC grew its stake in shares of Amgen by 51.1% during the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock valued at $34,000 after buying an additional 48 shares during the last quarter. Guardian Wealth Advisors LLC bought a new position in shares of Amgen during the first quarter valued at about $37,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of Amgen during the second quarter valued at about $37,000. Institutional investors own 74.44% of the company’s stock.

Amgen Trading Up 0.7 %

NASDAQ:AMGN opened at $272.00 on Wednesday. The company has a current ratio of 2.86, a quick ratio of 2.56 and a debt-to-equity ratio of 7.71. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $291.60. The company has a market cap of $145.57 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. The company has a 50 day simple moving average of $268.70 and a two-hundred day simple moving average of $246.75.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, October 31st. The medical research company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.65 by $0.31. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The firm had revenue of $6.90 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the business posted $4.70 EPS. Amgen’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 18.65 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be issued a dividend of $2.13 per share. This represents a $8.52 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, November 16th. Amgen’s dividend payout ratio (DPR) is presently 60.55%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Bank of America initiated coverage on Amgen in a research note on Wednesday, October 11th. They set a “neutral” rating and a $290.00 price objective on the stock. Mizuho raised their target price on Amgen from $214.00 to $223.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Argus raised their target price on Amgen from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank of Canada raised their target price on Amgen from $253.00 to $256.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 1st. Finally, HSBC initiated coverage on Amgen in a research note on Wednesday, September 6th. They issued a “buy” rating and a $320.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $278.15.

Insider Buying and Selling at Amgen

In other Amgen news, major shareholder Amgen Inc purchased 1,764,705 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was purchased at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the acquisition, the insider now owns 35,368,653 shares in the company, valued at $601,267,101. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Amgen news, major shareholder Amgen Inc purchased 1,764,705 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was purchased at an average price of $17.00 per share, with a total value of $29,999,985.00. Following the acquisition, the insider now owns 35,368,653 shares in the company, valued at $601,267,101. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan P. Graham sold 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the transaction, the executive vice president now directly owns 28,078 shares of the company’s stock, valued at approximately $7,659,959.18. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.