Investors Sell Shares of Amgen (AMGN) on Strength (AMGN)

Traders sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading on Thursday. $135.51 million flowed into the stock on the tick-up and $194.62 million flowed out of the stock on the tick-down, for a money net flow of $59.11 million out of the stock. Of all stocks tracked, Amgen had the 10th highest net out-flow for the day. Amgen traded up $0.02 for the day and closed at $182.45

A number of equities analysts recently commented on the company. Atlantic Securities cut Amgen from an “overweight” rating to a “neutral” rating and set a $187.01 price target for the company. in a report on Monday, February 5th. Piper Jaffray Companies reduced their price target on Amgen from $194.00 to $190.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Oppenheimer set a $205.00 price target on Amgen and gave the stock a “buy” rating in a report on Friday, January 5th. Morgan Stanley reduced their price target on Amgen from $204.00 to $196.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $198.00 price target on shares of Amgen in a report on Thursday, October 26th. Sixteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $191.84.

The firm has a market capitalization of $132,440.00, a price-to-earnings ratio of 16.59, a PEG ratio of 2.18 and a beta of 1.42. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.89 EPS. The company’s revenue was down 2.7% on a year-over-year basis. research analysts anticipate that Amgen, Inc. will post 13.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s payout ratio is presently 48.00%.

Amgen announced that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In other news, EVP Sean E. Harper sold 1,525 shares of Amgen stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $185.62, for a total value of $283,070.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 4,575 shares of company stock valued at $818,361. 0.19% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Amgen in the third quarter valued at approximately $108,000. Jackson Grant Investment Advisers Inc. raised its position in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Amgen in the second quarter valued at approximately $110,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Amgen by 110.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after buying an additional 340 shares in the last quarter. Finally, Omnia Family Wealth LLC raised its position in Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

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About Amgen

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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