Insider Selling: Amgen Inc. (NASDAQ:AMGN) EVP Sells $7,341,190.40 in Stock

Amgen Inc. (NASDAQ:AMGN) EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Amgen Price Performance

Shares of AMGN stock opened at $295.06 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $158.60 billion, a P/E ratio of 39.08, a P/E/G ratio of 3.01 and a beta of 0.56. The stock has a 50 day moving average of $272.96 and a two-hundred day moving average of $302.23. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. As a group, equities analysts expect that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is 119.21%.

Institutional Trading of Amgen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in shares of Amgen during the third quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the third quarter valued at about $29,000. Centricity Wealth Management LLC acquired a new position in Amgen during the 4th quarter worth about $25,000. Synergy Investment Management LLC bought a new stake in Amgen during the 4th quarter worth about $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter worth approximately $34,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $314.09.

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.