Traders Buy Shares of Amgen Inc. (AMGN) on Weakness
Investors purchased shares of Amgen Inc. (NASDAQ:AMGN) on weakness during trading hours on Friday. $123.34 million flowed into the stock on the tick-up and $69.06 million flowed out of the stock on the tick-down, for a money net flow of $54.28 million into the stock. Of all companies tracked, Amgen had the 4th highest net in-flow for the day. Amgen traded down ($0.36) for the day and closed at $169.77
AMGN has been the subject of a number of recent research reports. Jefferies Group reiterated a “buy” rating and set a $198.00 price target on shares of Amgen in a report on Tuesday, August 23rd. Vetr upgraded shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 price target for the company in a report on Wednesday, August 3rd. Argus reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Amgen in a report on Friday, August 5th. Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $198.00 price target (down from $199.00) on shares of Amgen in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, nine 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 a consensus price target of $185.15.
The firm has a market capitalization of $127.05 billion and a PE ratio of 17.37. The firm’s 50 day moving average is $170.63 and its 200-day moving average is $157.58.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.10. During the same period in the prior year, the company earned $2.57 earnings per share. The firm earned $5.69 billion during the quarter, compared to analyst estimates of $5.58 billion. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post $11.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Wednesday, August 17th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.36%.
In other news, VP Annette Louise Such sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total transaction of $523,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several hedge funds recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Amgen by 0.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,247,019 shares of the medical research company’s stock worth $527,089,000 after buying an additional 11,041 shares during the last quarter. PVG Asset Management bought a new stake in Amgen during the fourth quarter worth $2,712,000. BlackRock Investment Management LLC increased its stake in Amgen by 3.7% in the fourth quarter. BlackRock Investment Management LLC now owns 2,492,571 shares of the medical research company’s stock worth $404,619,000 after buying an additional 87,862 shares during the last quarter. BlackRock Advisors LLC increased its stake in Amgen by 40.1% in the fourth quarter. BlackRock Advisors LLC now owns 3,746,237 shares of the medical research company’s stock worth $608,126,000 after buying an additional 1,071,485 shares during the last quarter. Finally, TrimTabs Asset Management LLC increased its stake in Amgen by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 14,887 shares of the medical research company’s stock worth $2,417,000 after buying an additional 274 shares during the last quarter.
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).
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