Investors Sell Shares of Amgen Inc. (AMGN) on Strength (AMGN)
Investors sold shares of Amgen Inc. (NASDAQ:AMGN) on strength during trading on Thursday. $196.23 million flowed into the stock on the tick-up and $230.71 million flowed out of the stock on the tick-down, for a money net flow of $34.48 million out of the stock. Of all stocks tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $0.60 for the day and closed at $171.28
A number of brokerages recently weighed in on AMGN. Piper Jaffray Cos. restated a “buy” rating on shares of Amgen in a report on Saturday, April 30th. BMO Capital Markets restated a “buy” rating and set a $186.00 target price (up from $183.00) on shares of Amgen in a report on Saturday, April 30th. Cowen and Company restated a “buy” rating on shares of Amgen in a report on Sunday, April 17th. Morgan Stanley boosted their target price on shares of Amgen from $198.00 to $199.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Robert W. Baird restated a “neutral” rating and set a $157.00 target price on shares of Amgen in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $184.22.
The stock’s 50-day moving average is $157.17 and its 200-day moving average is $153.39. The stock has a market capitalization of $128.67 billion and a P/E ratio of 18.12.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, July 27th. The medical research company reported $2.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post $11.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Wednesday, August 17th will be given a $1.00 dividend. The ex-dividend date is Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.34%.
In related news, EVP Madhavan Balachandran sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $154.12, for a total value of $4,623,600.00. Following the completion of the sale, the executive vice president now owns 23,097 shares in the company, valued at approximately $3,559,709.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors recently made changes to their positions in AMGN. Freestone Capital Holdings LLC bought a new position in shares of Amgen during the fourth quarter worth approximately $1,099,000. Sfmg LLC boosted its position in shares of Amgen by 3.1% in the fourth quarter. Sfmg LLC now owns 7,098 shares of the medical research company’s stock worth $1,152,000 after buying an additional 215 shares during the period. Garcia Hamilton & Associates LP DE boosted its position in shares of Amgen by 1.6% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 7,232 shares of the medical research company’s stock worth $1,174,000 after buying an additional 114 shares during the period. Physicians Financial Services Inc. bought a new position in shares of Amgen during the fourth quarter worth approximately $1,254,000. Finally, Barrett Asset Management LLC boosted its position in shares of Amgen by 0.3% in the fourth quarter. Barrett Asset Management LLC now owns 8,218 shares of the medical research company’s stock worth $1,334,000 after buying an additional 25 shares during the period.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).