Traders Sell Amgen (AMGN) on Strength (AMGN)

Investors sold shares of Amgen, Inc. (NASDAQ:AMGN) on strength during trading hours on Friday. $77.40 million flowed into the stock on the tick-up and $167.42 million flowed out of the stock on the tick-down, for a money net flow of $90.02 million out of the stock. Of all equities tracked, Amgen had the 0th highest net out-flow for the day. Amgen traded up $1.77 for the day and closed at $186.00

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Amgen from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. Royal Bank of Canada restated a “neutral” rating and set a price objective on shares of Amgen in a research report on Monday, January 14th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Monday, January 14th. Goldman Sachs Group restated a “buy” rating and set a $232.00 price objective on shares of Amgen in a research report on Tuesday, December 4th. Finally, BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $205.51.

The company has a debt-to-equity ratio of 2.36, a quick ratio of 2.84 and a current ratio of 2.79. The firm has a market cap of $118.52 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.21.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, January 29th. The medical research company reported $3.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.26 by $0.16. Amgen had a net margin of 35.35% and a return on equity of 66.74%. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the firm earned $2.89 EPS. On average, equities analysts predict that Amgen, Inc. will post 13.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be issued a dividend of $1.45 per share. The ex-dividend date is Thursday, February 14th. This represents a $5.80 annualized dividend and a dividend yield of 3.12%. This is a positive change from Amgen’s previous quarterly dividend of $1.32. Amgen’s dividend payout ratio (DPR) is currently 36.67%.

In other Amgen news, SVP Cynthia M. Patton sold 1,777 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the sale, the senior vice president now owns 23,090 shares of the company’s stock, valued at approximately $4,684,499.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tyler Jacks sold 20,000 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $195.41, for a total transaction of $3,908,200.00. Following the completion of the sale, the director now directly owns 28,979 shares in the company, valued at approximately $5,662,786.39. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Ruggie Capital Group grew its holdings in Amgen by 297.1% in the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock worth $26,000 after acquiring an additional 101 shares during the last quarter. Arlington Partners LLC grew its holdings in Amgen by 86.7% in the 4th quarter. Arlington Partners LLC now owns 140 shares of the medical research company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. Massey Quick Simon & CO. LLC grew its holdings in Amgen by 710.5% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock worth $30,000 after acquiring an additional 135 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Amgen in the 4th quarter worth $39,000. Finally, Contravisory Investment Management Inc. bought a new stake in Amgen in the 4th quarter worth $50,000. 76.86% of the stock is currently owned by institutional investors and hedge funds.

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About Amgen (NASDAQ:AMGN)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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