Amgen Inc. (NASDAQ:AMGN) Receives $314.04 Average PT from Analysts

Amgen Inc. (NASDAQ:AMGN) has been assigned a consensus recommendation of “Hold” from the twenty-four analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $314.04.

Several brokerages recently commented on AMGN. UBS Group reissued a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler raised their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Finally, Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction 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 in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Amgen

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after purchasing an additional 339,522 shares during the last quarter. State Street Corp grew its stake in shares of Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after buying an additional 345,537 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amgen by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after buying an additional 352,143 shares during the period. Finally, Capital International Investors lifted its stake in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.5 %

AMGN stock opened at $314.38 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen has a 52-week low of $253.30 and a 52-week high of $346.85. The company’s 50-day simple moving average is $298.13 and its 200-day simple moving average is $298.50. The firm has a market cap of $168.89 billion, a P/E ratio of 41.64, a PEG ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 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%. As a group, equities analysts forecast that Amgen will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.03%. Amgen’s dividend payout ratio is currently 126.09%.

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.