Insider Selling: Amgen (NASDAQ:AMGN) SVP Sells $521,370.36 in Stock

Key Points

• Amgen SVP Rachna Khosla sold 1,252 shares for approximately $521,370 at an average price of $416.43, reducing her holdings by 16.35% to 6,404 shares. She also sold 2,000 shares earlier in the week.
• Amgen shares rose 0.4% to $417.84, near their 52-week high of $421.79. The company recently beat quarterly earnings and revenue expectations, reporting $6.29 in EPS and $10.05 billion in revenue.
• Amgen declared a quarterly dividend of $2.52 per share, equivalent to a $10.08 annualized payout and a 2.4% yield. Analysts’ consensus rating is “Hold,” with an average price target of $371.68.

Amgen Inc. (NASDAQ:AMGN - Get Free Report) SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rachna Khosla also recently made the following trade(s):

• On Tuesday, August 11th, Rachna Khosla sold 2,000 shares of Amgen stock. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00.

Amgen Stock Up 0.4%

Shares of Amgen stock traded up $1.66 during midday trading on Thursday, hitting $417.84. The company's stock had a trading volume of 2,777,498 shares, compared to its average volume of 2,729,039. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $421.79. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $225.90 billion, a P/E ratio of 25.97, a PEG ratio of 3.87 and a beta of 0.41. The stock has a 50-day simple moving average of $369.26 and a 200-day simple moving average of $358.53.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMGN shares. Daiwa Securities Group cut their price objective on Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Amgen from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. TD Cowen increased their price target on shares of Amgen from $420.00 to $452.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on shares of Amgen from $370.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Canaccord Genuity Group lifted their target price on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $371.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGN. Vanguard Group Inc. lifted its position in shares of Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after buying an additional 961,975 shares during the period. BlackRock Inc. grew its position in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. State Street Corp raised its stake in Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares in the last quarter. Capital World Investors raised its stake in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after acquiring an additional 4,302,237 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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