Insider Selling: Amgen Inc. (NASDAQ:AMGN) EVP Sells $7,679,499.00 in Stock

Amgen Inc. (NASDAQ:AMGN) EVP David M. Reese sold 25,225 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Amgen Stock Performance

NASDAQ:AMGN opened at $303.01 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a 50-day moving average price of $276.27 and a 200 day moving average price of $300.31. The stock has a market capitalization of $162.78 billion, a P/E ratio of 40.13, a P/E/G ratio of 2.58 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted 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 176.32% and a net margin of 12.24%. Equities research analysts forecast that Amgen Inc. will post 20.6 EPS for the current fiscal year.

Amgen Increases Dividend

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Piper Sandler Companies restated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Jefferies Financial Group restated a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Wolfe Research assumed coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $314.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMGN. AMF Tjanstepension AB grew its stake in Amgen by 16.9% during the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after buying an additional 17,387 shares during the last quarter. Swedbank AB lifted its holdings in shares of Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares during the period. Segment Wealth Management LLC lifted its holdings in shares of Amgen by 5.6% in the 3rd quarter. Segment Wealth Management LLC now owns 938 shares of the medical research company’s stock valued at $302,000 after buying an additional 50 shares during the period. Elevated Capital Advisors LLC raised its holdings in Amgen by 2.5% in the 3rd quarter. Elevated Capital Advisors LLC now owns 1,539 shares of the medical research company’s stock worth $496,000 after purchasing an additional 38 shares during the period. Finally, Lake Street Private Wealth LLC raised its holdings in Amgen by 10.1% in the 3rd quarter. Lake Street Private Wealth LLC now owns 1,861 shares of the medical research company’s stock worth $600,000 after purchasing an additional 171 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

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.