Shares of Amgen, Inc. (NASDAQ:AMGN) have been assigned a consensus recommendation of “Hold” from the twenty-seven analysts that are currently covering the company, Marketbeat.com reports. Sixteen analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $192.11.
AMGN has been the subject of a number of analyst reports. Mizuho set a $198.00 target price on shares of Amgen and gave the stock a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research note on Friday, October 27th. Oppenheimer reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a research note on Thursday, November 30th. Cann reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a research note on Thursday, November 30th. Finally, Goldman Sachs Group downgraded shares of Amgen from a “conviction-buy” rating to a “buy” rating in a research note on Friday, December 15th.
Amgen (AMGN) opened at $176.65 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49. The company has a market cap of $128,230.00, a price-to-earnings ratio of 68.47, a P/E/G ratio of 2.69 and a beta of 1.42. Amgen has a 12 month low of $152.16 and a 12 month high of $201.23.
Amgen announced that its Board of Directors has approved 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, February 14th. Amgen’s dividend payout ratio is presently 178.29%.
In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the completion of the sale, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,575 shares of company stock valued at $814,396 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Several large investors have recently made changes to their positions in AMGN. Baker Ellis Asset Management LLC purchased a new position in Amgen during the third quarter worth about $108,000. Phocas Financial Corp. purchased a new position in Amgen during the second quarter worth about $110,000. Jackson Grant Investment Advisers Inc. raised its holdings in Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares in the last quarter. Omnia Family Wealth LLC raised its holdings in Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares in the last quarter. 78.59% of the stock is owned by institutional investors and hedge funds.
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Amgen Company Profile
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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