Nancy A. Grygiel Sells 1,589 Shares of Amgen Inc. (NASDAQ:AMGN) Stock

Amgen Inc. (NASDAQ:AMGN) SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Amgen Stock Down 3.3 %

Shares of NASDAQ:AMGN opened at $297.78 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock’s fifty day simple moving average is $271.69 and its 200-day simple moving average is $303.55. The company has a market capitalization of $160.07 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.87 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 168.35% and a net margin of 13.00%. As a group, equities research analysts forecast that Amgen Inc. will post 19.56 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. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.20%. Amgen’s dividend payout ratio is 126.09%.

Hedge Funds Weigh In On Amgen

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Citigroup reduced their price objective on Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Truist Financial reduced their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.83.

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.