Analysts Set Amgen Inc. (NASDAQ:AMGN) PT at $314.04

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) have received an average rating of "Hold" from the twenty-four research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $314.04.

Several analysts have recently issued reports on the company. UBS Group reaffirmed a "hold" rating on shares of Amgen in a report on Wednesday, February 12th. Citigroup reiterated a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler boosted their price objective on Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th.

Amgen Price Performance

AMGN stock traded down $7.52 during midday trading on Friday, hitting $306.86. The company's stock had a trading volume of 2,564,094 shares, compared to its average volume of 2,551,876. 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 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50 day moving average of $298.13 and a two-hundred day moving average of $298.50. The firm has a market capitalization of $164.85 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

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Amgen (NASDAQ:AMGN - Get Free Report) last released 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 net margin of 12.24% and a return on equity of 176.32%. On average, analysts expect that Amgen will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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 given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 126.09%.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,341 shares of company stock worth $20,644,335 over the last three months. 0.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AMGN. Capital World Investors grew its stake in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank bought a new stake in shares of Amgen in the 4th quarter valued at about $1,541,991,000. Capital International Investors grew its position in shares of Amgen by 40.1% in 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 buying an additional 3,495,503 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Amgen during the fourth quarter valued at approximately $401,913,000. 76.50% of the stock is owned by institutional investors.

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.