Amgen Inc. (NASDAQ:AMGN) SVP Sells $662,811.53 in Stock

Amgen Inc. (NASDAQ:AMGN) SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Amgen Trading Up 11.8 %

Shares of Amgen stock opened at $311.29 on Monday. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock’s 50-day simple moving average is $274.95 and its 200 day simple moving average is $281.46. The stock has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the previous year, the business posted $3.98 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMGN. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. UBS Group raised their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Finally, TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

Institutional Investors Weigh In On Amgen

Several hedge funds and other institutional investors have recently modified their holdings of AMGN. J.W. Cole Advisors Inc. increased its position in shares of Amgen by 11.7% in the third quarter. J.W. Cole Advisors Inc. now owns 2,785 shares of the medical research company’s stock worth $748,000 after purchasing an additional 292 shares during the last quarter. Legacy Financial Group LLC bought a new position in shares of Amgen in the third quarter worth approximately $54,000. PFG Private Wealth Management LLC bought a new position in shares of Amgen in the third quarter worth approximately $31,000. Horst & Graben Wealth Management LLC bought a new position in shares of Amgen in the third quarter worth approximately $215,000. Finally, Bouchey Financial Group Ltd increased its position in shares of Amgen by 36.7% in the third quarter. Bouchey Financial Group Ltd now owns 1,341 shares of the medical research company’s stock worth $361,000 after purchasing an additional 360 shares during the last quarter. 76.50% of the stock is currently owned by 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.