Insider Selling: Amgen Inc. (NASDAQ:AMGN) EVP Sells 13,500 Shares of Stock

Amgen Inc. (NASDAQ:AMGN – Get Rating) EVP Jonathan P. Graham sold 13,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total value of $3,264,435.00. Following the completion of the transaction, the executive vice president now directly owns 37,333 shares in the company, valued at $9,027,492.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NASDAQ AMGN opened at $240.71 on Wednesday. Amgen Inc. has a 1-year low of $198.64 and a 1-year high of $258.45. The company has a debt-to-equity ratio of 39.31, a current ratio of 1.44 and a quick ratio of 1.09. The business’s fifty day moving average price is $241.11 and its two-hundred day moving average price is $226.79. The firm has a market capitalization of $128.59 billion, a PE ratio of 23.69, a P/E/G ratio of 1.65 and a beta of 0.58.

Amgen (NASDAQ:AMGN – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.22 by $0.03. Amgen had a return on equity of 165.95% and a net margin of 21.75%. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the prior year, the business posted $3.70 earnings per share. Equities research analysts expect that Amgen Inc. will post 17.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Tuesday, May 17th will be paid a $1.94 dividend. The ex-dividend date is Monday, May 16th. This represents a $7.76 annualized dividend and a dividend yield of 3.22%. Amgen’s payout ratio is 76.38%.

Several large investors have recently added to or reduced their stakes in AMGN. Rational Advisors LLC bought a new position in Amgen during the first quarter valued at about $26,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Amgen during the fourth quarter valued at about $26,000. Norwood Financial Corp bought a new position in Amgen during the fourth quarter valued at about $28,000. CKW Financial Group bought a new position in Amgen during the first quarter valued at about $31,000. Finally, Bromfield Sneider Wealth Advisors bought a new position in Amgen during the first quarter valued at about $35,000. 79.01% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on AMGN shares. Oppenheimer lowered Amgen to an “outperform” rating and set a $285.00 target price on the stock. in a research report on Tuesday, May 3rd. Piper Sandler upped their target price on Amgen from $255.00 to $260.00 in a research report on Thursday, April 28th. Mizuho upped their target price on Amgen from $202.00 to $208.00 in a research report on Tuesday. BMO Capital Markets dropped their price target on Amgen from $263.00 to $243.00 in a research report on Thursday, April 28th. Finally, Wells Fargo & Company upped their price target on Amgen from $210.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $240.40.

Amgen Company Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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