Insider Selling: Amgen (NASDAQ:AMGN) SVP Sells 3,139 Shares of Stock

Amgen Inc. (NASDAQ:AMGN) SVP Nancy Grygiel sold 3,139 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Amgen Price Performance

NASDAQ AMGN traded up $1.47 during mid-day trading on Friday, hitting $337.54. The stock had a trading volume of 4,128,637 shares, compared to its average volume of 2,752,956. The firm’s 50 day moving average is $300.99 and its 200 day moving average is $292.31. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $345.84. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market capitalization of $181.76 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same quarter in the previous year, the company posted $5.58 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio is currently 73.57%.

Institutional Trading of Amgen

A number of hedge funds and other institutional investors have recently modified their holdings of the business. West Family Investments Inc. increased its position in shares of Amgen by 1.1% during the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock valued at $779,000 after acquiring an additional 30 shares during the last quarter. Viawealth LLC boosted its position in shares of Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company’s stock worth $2,023,000 after purchasing an additional 30 shares during the period. LOM Asset Management Ltd increased its holdings in Amgen by 1.2% in the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company’s stock valued at $721,000 after purchasing an additional 30 shares during the last quarter. Sittner & Nelson LLC raised its position in Amgen by 0.4% in the third quarter. Sittner & Nelson LLC now owns 7,276 shares of the medical research company’s stock valued at $2,053,000 after purchasing an additional 30 shares during the period. Finally, TAGStone Capital Inc. lifted its stake in Amgen by 0.8% during the third quarter. TAGStone Capital Inc. now owns 4,101 shares of the medical research company’s stock worth $1,157,000 after purchasing an additional 32 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMGN shares. HSBC raised their target price on shares of Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America boosted their price objective on Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research note on Friday, September 26th. Raymond James Financial began coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. The Goldman Sachs Group lowered their price target on shares of Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Piper Sandler upped their price objective on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $319.90.

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.