Insider Selling: Amgen Inc. (NASDAQ:AMGN) EVP Sells $2,585,603.09 in Stock

Amgen Inc. (NASDAQ:AMGN) EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This represents a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $296.97 on Friday. The stock has a market capitalization of $159.63 billion, a P/E ratio of 39.33, a P/E/G ratio of 3.01 and a beta of 0.56. The business has a 50-day moving average of $273.29 and a two-hundred day moving average of $302.18. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.21%. Amgen’s dividend payout ratio (DPR) is presently 119.21%.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Piper Sandler lifted their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday. Leerink Partners dropped their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. TD Cowen raised their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $314.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter worth about $25,000. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter worth approximately $29,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter valued at approximately $34,000. Institutional investors own 76.50% of the company’s stock.

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.