Amgen (AMGN) Sets New 12-Month High at $192.37
Amgen, Inc. (NASDAQ:AMGN)’s share price reached a new 52-week high on Monday . The stock traded as high as $192.37 and last traded at $192.30, with a volume of 1620000 shares. The stock had previously closed at $187.59.
Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Amgen to $210.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research report on Thursday. Oppenheimer reiterated a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Friday, October 6th. Mizuho reiterated a “buy” rating and set a $198.00 price objective on shares of Amgen in a research report on Friday, October 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $196.00 price objective (up from $189.00) on shares of Amgen in a research report on Friday, October 6th. Fifteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and a consensus target price of $190.15.
The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. The stock has a market cap of $139,540.00, a price-to-earnings ratio of 17.10, a P/E/G ratio of 2.78 and a beta of 1.36.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $1.32 per share. This is a boost from Amgen’s previous quarterly dividend of $1.15. This represents a $5.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s payout ratio is currently 41.55%.
Amgen declared that its board has approved a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carbonnel Francois De sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,575 shares of company stock worth $1,508,836. 0.19% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Forte Capital LLC ADV boosted its holdings in Amgen by 2.9% in the fourth quarter. Forte Capital LLC ADV now owns 17,641 shares of the medical research company’s stock worth $3,067,000 after purchasing an additional 505 shares in the last quarter. Foster & Motley Inc. lifted its position in Amgen by 1.2% during the 4th quarter. Foster & Motley Inc. now owns 47,094 shares of the medical research company’s stock worth $8,190,000 after acquiring an additional 574 shares during the last quarter. Augustine Asset Management Inc. lifted its position in Amgen by 6.2% during the 4th quarter. Augustine Asset Management Inc. now owns 24,679 shares of the medical research company’s stock worth $4,291,000 after acquiring an additional 1,434 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Amgen by 5.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,263 shares of the medical research company’s stock worth $4,915,000 after acquiring an additional 1,508 shares during the last quarter. Finally, V Wealth Management LLC lifted its position in Amgen by 3.6% during the 4th quarter. V Wealth Management LLC now owns 14,480 shares of the medical research company’s stock worth $2,684,000 after acquiring an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 78.48% of the company’s stock.
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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