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 business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $32.90 during midday trading on Friday, reaching $311.29. The company’s stock had a trading volume of 9,644,103 shares, compared to its average volume of 2,894,568. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a market capitalization of $166.97 billion, a P/E ratio of 24.92, a PEG ratio of 2.68 and a beta of 0.60. The firm has a 50 day moving average price of $274.51 and a 200-day moving average price of $281.33. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72.

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, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the previous year, the company earned $3.98 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 19.43 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid 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 is currently 72.06%.

Hedge Funds Weigh In On Amgen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. J.W. Cole Advisors Inc. grew its holdings in shares of Amgen by 11.7% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,785 shares of the medical research company’s stock valued at $748,000 after purchasing an additional 292 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in Amgen in the third quarter worth about $54,000. PFG Private Wealth Management LLC bought a new stake in Amgen during the 3rd quarter valued at approximately $31,000. Horst & Graben Wealth Management LLC purchased a new position in shares of Amgen during the 3rd quarter worth approximately $215,000. Finally, Bouchey Financial Group Ltd lifted its stake in shares of Amgen by 36.7% in the 3rd quarter. Bouchey Financial Group Ltd now owns 1,341 shares of the medical research company’s stock valued at $361,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMGN. BMO Capital Markets upped their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James assumed coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. UBS Group upped their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada reduced their target price on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.