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

Amgen Inc. (NASDAQ:AMGN - Get Free Report) SVP Nancy A. Grygiel sold 2,117 shares of the company's 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 directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Amgen Trading Up 11.8 %

Amgen stock traded up $32.90 during midday trading on Friday, hitting $311.29. 9,644,103 shares of the stock were exchanged, compared to its average volume of 2,894,568. The stock's 50-day simple moving average is $274.51 and its 200 day simple moving average is $281.33. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The stock has a market capitalization of $166.97 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 2.68 and a beta of 0.60.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the company posted $3.98 earnings per share. The business's revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities analysts anticipate that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.89%. Amgen's dividend payout ratio (DPR) is 72.06%.

Hedge Funds Weigh In On Amgen

Several institutional investors have recently bought and sold shares of AMGN. OFI Invest Asset Management acquired a new stake in Amgen in the third quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen in the third quarter valued at $26,000. Horizon Financial Services LLC purchased a new stake in Amgen during the 1st quarter worth about $28,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the fourth quarter valued at approximately $29,000. Finally, United Community Bank purchased a new stake in shares of Amgen in the fourth quarter valued at $29,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on AMGN. Truist Financial reissued a "buy" rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. William Blair upgraded shares of Amgen from a "market perform" rating to an "outperform" rating in a research report on Friday. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the stock an "equal weight" rating in a report on Friday. SVB Leerink cut Amgen from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Finally, Barclays upgraded shares of Amgen from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $230.00 to $300.00 in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $305.05.

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.

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