Mizuho lowered shares of Amgen (NASDAQ:AMGN) from a buy rating to a neutral rating in a research report released on Monday morning, BenzingaRatingsTable reports. Mizuho currently has $212.00 price objective on the medical research company’s stock, up from their previous price objective of $208.00. The analysts noted that the move was a valuation call.
AMGN has been the topic of a number of other research reports. Morgan Stanley dropped their price objective on shares of Amgen from $211.00 to $207.00 and set an overweight rating on the stock in a report on Monday, July 15th. JPMorgan Chase & Co. reissued a hold rating on shares of Amgen in a research note on Friday, August 9th. Royal Bank of Canada reissued a hold rating on shares of Amgen in a research note on Sunday, August 11th. Credit Suisse Group reissued an outperform rating and set a $225.00 target price (up previously from $202.00) on shares of Amgen in a research note on Friday, August 16th. Finally, Oppenheimer raised their target price on shares of Amgen from $210.00 to $230.00 and gave the company an outperform rating in a research note on Tuesday, August 13th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $212.94.
AMGN stock opened at $203.94 on Monday. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. Amgen has a fifty-two week low of $166.30 and a fifty-two week high of $211.90. The firm’s 50-day simple moving average is $185.85 and its 200 day simple moving average is $183.32. The stock has a market cap of $122.35 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 2.39 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio is currently 40.28%.
In other news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $2,990,141.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the transaction, the director now directly owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. Insiders sold a total of 4,425 shares of company stock worth $804,312 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Financial Planning LLC acquired a new position in shares of Amgen in the 4th quarter worth approximately $27,000. Advisors Preferred LLC acquired a new position in shares of Amgen in the second quarter worth about $30,000. Arbor Wealth Management LLC boosted its holdings in shares of Amgen by 154.5% in the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares during the period. C J Advisory Inc acquired a new position in shares of Amgen in the first quarter worth about $40,000. Finally, Clarfeld Financial Advisors LLC acquired a new position in shares of Amgen in the fourth quarter worth about $41,000. 78.01% of the stock is currently owned by institutional investors.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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