Insider Selling: Amgen (NASDAQ:AMGN) SVP Sells $825,140.00 in Stock

Key Points

• Amgen SVP Rachna Khosla sold 2,000 shares for approximately $825,140, reducing her direct holdings by 23.8% to 6,404 shares. She also sold an additional 1,252 shares two days later for about $521,370.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst expectations, while revenue rose 9.5% year over year.
• Shares recently traded near $417.84, close to their 12-month high, and the company declared a quarterly dividend of $2.52 per share, representing a 2.4% annualized yield.

Amgen Inc. (NASDAQ:AMGN - Get Free Report) SVP Rachna Khosla sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, August 13th, Rachna Khosla sold 1,252 shares of Amgen stock. The stock was sold at an average price of $416.43, for a total value of $521,370.36.

Amgen Stock Performance

Shares of Amgen stock traded up $1.66 during trading hours on Thursday, hitting $417.84. 2,777,498 shares of the company's stock traded hands, compared to its average volume of 2,729,039. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $421.79. The stock has a market capitalization of $225.90 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 3.87 and a beta of 0.41. The company has a fifty day simple moving average of $369.26 and a 200-day simple moving average of $358.53. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping 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 net margin of 22.95% and a return on equity of 124.14%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis 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%.

Hedge Funds Weigh In On Amgen

Several hedge funds have recently bought and sold shares of AMGN. Anfield Capital Management LLC grew its position in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC raised its position in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after buying an additional 55 shares in the last quarter. Tower View Wealth Management LLC raised its position in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares during the period. Finally, Ares Financial Consulting LLC bought a new stake in Amgen during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a report on Tuesday, May 5th. Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Argus dropped their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Oppenheimer raised their price objective on shares of Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price target on Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $371.68.

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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