Amgen Inc. (NASDAQ:AMGN) SVP Nancy A. Grygiel Sells 2,117 Shares

Amgen Inc. (NASDAQ:AMGN) SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, 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 can be accessed through this hyperlink.

Amgen Stock Up 11.8 %

NASDAQ AMGN opened at $311.29 on Friday. The business has a fifty day moving average price of $274.95 and a two-hundred day moving average price of $281.50. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The stock has a market capitalization of $166.97 billion, a PE ratio of 44.47, a PEG ratio of 2.69 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.98 earnings per share. Equities analysts expect that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

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 issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.89%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Briaud Financial Planning Inc acquired a new stake in Amgen in the third quarter valued at $26,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen in the fourth quarter valued at $29,000. United Community Bank acquired a new stake in Amgen during the 4th quarter worth about $29,000. Horizon Financial Services LLC acquired a new stake in Amgen during the 1st quarter worth about $28,000. Finally, OFI Invest Asset Management acquired a new stake in Amgen during the 3rd quarter worth about $26,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the topic of several recent analyst reports. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their price target on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets lifted their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada lowered their price target on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $305.05.

About Amgen

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.