Insider Selling: Amgen Inc. (NASDAQ:AMGN) SVP Sells 2,117 Shares of Stock

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 stock was 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 owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Amgen Price Performance

Shares of AMGN stock opened at $311.29 on Monday. The stock has a 50 day moving average price of $274.95 and a 200 day moving average price of $281.46. The firm has a market capitalization of $166.97 billion, a P/E ratio of 44.47, a P/E/G ratio of 3.01 and a beta of 0.60. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 145.62% and a net margin of 12.74%. Amgen’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the business posted $3.98 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.46 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders 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 yield of 2.89%. Amgen’s payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. UBS Group boosted their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $230.00 to $300.00 in a research note on Friday. Finally, Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.05.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMGN. OFI Invest Asset Management purchased a new position in Amgen during the 3rd quarter worth $26,000. Briaud Financial Planning Inc bought a new position in shares of Amgen in the 3rd quarter worth $26,000. Horizon Financial Services LLC bought a new position in shares of Amgen in the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen in the 4th quarter worth $29,000. Finally, United Community Bank bought a new position in shares of Amgen in the 4th quarter worth $29,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.