Amgen (NASDAQ:AMGN) SVP Rachna Khosla Sells 890 Shares of Stock

Amgen Inc. (NASDAQ:AMGN) SVP Rachna Khosla sold 890 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Amgen Trading Down 1.2%

Shares of AMGN stock traded down $3.95 during mid-day trading on Friday, hitting $332.05. 522,278 shares of the company’s stock were exchanged, compared to its average volume of 2,731,422. The stock has a market cap of $178.80 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.61 and a beta of 0.45. The stock has a 50-day simple moving average of $293.85 and a two-hundred day simple moving average of $290.01. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $345.84. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 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 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 21st. Amgen’s payout ratio is presently 73.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank started coverage on shares of Amgen in a research note on Thursday. They set a “sector outperform” rating and a $385.00 price target on the stock. Cantor Fitzgerald increased their target price on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Guggenheim increased their target price on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.05.

Hedge Funds Weigh In On Amgen

Several institutional investors and hedge funds have recently made changes to their positions in AMGN. Laurel Wealth Advisors LLC grew its stake in Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after buying an additional 6,676,575 shares during the last quarter. Norges Bank bought a new position in shares of Amgen during the 2nd quarter valued at about $1,663,726,000. Nuveen LLC bought a new position in shares of Amgen in the first quarter valued at $688,868,000. Capital World Investors increased its stake in Amgen by 11.5% in the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock worth $5,303,578,000 after purchasing an additional 1,935,876 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Amgen by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.