David M. Reese Sells 8,711 Shares of Amgen Inc. (NASDAQ:AMGN) Stock

Amgen Inc. (NASDAQ:AMGN) EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. The trade was a 12.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Amgen Trading Up 1.7 %

Amgen stock opened at $303.01 on Friday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s fifty day moving average price is $276.27 and its two-hundred day moving average price is $300.59. The company has a market capitalization of $162.78 billion, a price-to-earnings ratio of 40.13, a PEG ratio of 2.55 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts forecast that Amgen Inc. will post 20.6 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 126.09%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMGN. Talbot Financial LLC lifted its stake in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after buying an additional 2,274 shares during the period. Swiss National Bank lifted its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after purchasing an additional 5,500 shares during the period. Asset Advisors Investment Management LLC boosted its stake in Amgen by 9.0% during the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after buying an additional 2,954 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after buying an additional 1,872 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Truist Financial dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $314.09.

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.