Traders Buy Shares of Amgen (AMGN) on Weakness
Traders bought shares of Amgen, Inc. (NASDAQ:AMGN) on weakness during trading on Thursday. $304.05 million flowed into the stock on the tick-up and $191.68 million flowed out of the stock on the tick-down, for a money net flow of $112.37 million into the stock. Of all companies tracked, Amgen had the 9th highest net in-flow for the day. Amgen traded down ($0.48) for the day and closed at $183.29
A number of research firms have recently weighed in on AMGN. Vetr raised Amgen from a “sell” rating to a “hold” rating and set a $181.60 price objective for the company in a research note on Tuesday. Mizuho increased their price objective on Amgen from $192.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Atlantic Securities lowered Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price objective for the company. in a research note on Monday, February 5th. JPMorgan Chase & Co. reissued a “hold” rating and set a $191.00 price objective on shares of Amgen in a research note on Sunday, February 4th. Finally, Leerink Swann reissued a “market perform” rating on shares of Amgen in a research note on Friday, February 2nd. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $191.72.
The company has a debt-to-equity ratio of 1.35, a current ratio of 5.49 and a quick ratio of 5.17. The firm has a market capitalization of $134,660.00, a price-to-earnings ratio of 16.83, a PEG ratio of 2.19 and a beta of 1.37.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a $1.32 dividend. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.28 dividend on an annualized basis and a yield of 2.85%. Amgen’s dividend payout ratio is 48.00%.
Amgen declared that its board has initiated a share repurchase program on Thursday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 4,575 shares of company stock valued at $818,361. 0.19% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new stake in shares of Amgen in the fourth quarter worth $58,641,000. Chemical Bank grew its stake in shares of Amgen by 3.4% in the fourth quarter. Chemical Bank now owns 12,391 shares of the medical research company’s stock worth $2,155,000 after acquiring an additional 410 shares during the last quarter. Green Square Capital LLC grew its stake in shares of Amgen by 18.0% in the fourth quarter. Green Square Capital LLC now owns 47,457 shares of the medical research company’s stock worth $8,253,000 after acquiring an additional 7,231 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Amgen by 1.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 78,148 shares of the medical research company’s stock worth $13,590,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Fairfield Bush & CO. grew its stake in shares of Amgen by 3.7% in the fourth quarter. Fairfield Bush & CO. now owns 34,361 shares of the medical research company’s stock worth $5,975,000 after acquiring an additional 1,215 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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