Investors Sell Shares of Amgen (AMGN) on Strength (AMGN)
Investors sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading on Monday. $142.36 million flowed into the stock on the tick-up and $264.33 million flowed out of the stock on the tick-down, for a money net flow of $121.97 million out of the stock. Of all stocks tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $1.41 for the day and closed at $174.87
A number of brokerages have commented on AMGN. Piper Jaffray Companies decreased their price target on shares of Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Atlantic Securities lowered shares of Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target for the company. in a research note on Monday, February 5th. Morgan Stanley decreased their price target on shares of Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of Amgen from $192.00 to $202.00 and gave the company a “market perform” rating in a research note on Friday, February 2nd. Finally, Mizuho restated a “buy” rating and set a $200.00 price target (up previously from $192.00) on shares of Amgen in a research note on Monday. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $191.84.
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 $128,650.00, a price-to-earnings ratio of 68.69, a PEG ratio of 2.15 and a beta of 1.42.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, February 14th. Amgen’s payout ratio is 178.29%.
Amgen declared that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $176.83, for a total value of $269,665.75. Following the transaction, the executive vice president now directly owns 56,106 shares of the company’s stock, valued at approximately $9,921,223.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Baker Ellis Asset Management LLC bought a new stake in Amgen in the 3rd quarter valued at about $108,000. Jackson Grant Investment Advisers Inc. raised its stake in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after acquiring an additional 5 shares during the period. Phocas Financial Corp. bought a new stake in Amgen in the 2nd quarter valued at about $110,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Amgen by 110.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after acquiring an additional 340 shares during the period. Finally, Omnia Family Wealth LLC raised its stake in Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after acquiring an additional 147 shares during the period. 78.95% of the stock is currently owned by institutional investors.
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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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