Amgen Faces Significant Options Trading Surge (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) experienced a notable surge in options trading on Friday, with investors acquiring a total of 34,497 call options. This remarkable figure marks a 93% increase compared to the average volume of 17,845 call options typically seen for the stock.

Insider Activity at Amgen

In related news, on February 5th, Senior Vice President Nancy A. Grygiel offloaded 1,589 shares of her stock holdings at an average price of $304.47, totaling approximately $483,802.83. After this transaction, Grygiel retains 7,210 shares in Amgen, which are valued at around $2,195,228.70. This sale reflects an 18.06% reduction in her ownership. The transaction details have been made available through a regulatory filing with the Securities and Exchange Commission.

Moreover, Executive Vice President David M. Reese also sold a sizable portion of his holdings, divesting 25,225 shares on February 21st at an average price of $304.44, which amounted to around $7,679,499.00. Post-sale, Reese's stake in Amgen stands at 36,922 shares, valued at approximately $11,240,533.68, showcasing a 40.59% decline in his ownership. The disclosure regarding this sale is accessible via the appropriate resources.

Over the preceding 90 days, insiders at Amgen have collectively sold 69,341 shares worth about $20,644,335. Current statistics indicate that company insiders possess merely 0.69% of Amgen's stock.

Institutional Investors' Adjustments to Amgen Holdings

Several institutional investors have recently adjusted their positions concerning Amgen's stock. For instance, AMF Tjanstepension AB increased its holdings by 16.9% during the third quarter. Following an additional purchase of 17,387 shares, AMF Tjanstepension AB now owns 120,389 shares valued at $38,825,000.

Similarly, Swedbank AB has raised its holdings by 1.1%, now owning 538,899 shares worth $173,639,000 after acquiring 5,751 more shares. Nicholas Hoffman & Company LLC has also increased its position by 23.3%, bringing its total to 1,033 shares valued at $333,000. Meanwhile, Diversify Wealth Management LLC raised its stake by 26.5%, reaching a total of 4,647 shares worth $1,463,000 after adding 973 shares. Lastly, Cornerstone Wealth Group LLC has lifted its ownership by 1.0%, now possessing 12,944 shares valued at $4,171,000. At present, institutional investors hold 76.50% of Amgen's stock.

Analysts Reassess Price Targets

Analyst perspectives on Amgen have resulted in various updates. For instance, StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” designation on December 18th. Piper Sandler Companies maintained an “overweight” rating while establishing a target price of $310.00 in a report dated January 2nd. Similarly, UBS Group reiterated a “hold” rating on Amgen's shares on February 12th. Additionally, Leerink Partners reduced its price target for Amgen from $349.00 to $302.00 in a note released on November 27th. Wolfe Research recently initiated coverage on Amgen, assigning a “peer perform” rating.

At present, the consensus among analysts includes two sell ratings, ten hold ratings, twelve buy ratings, and one strong buy rating. According to data sourced from MarketBeat.com, Amgen holds a consensus rating of “Hold” with an average target price of $314.09.

Amgen's Stock Performance

On Friday, shares of AMGN opened at $308.06. The company boasts a market capitalization of $165.49 billion, with a price-to-earnings ratio of 40.80, a P/E/G ratio of 2.63, and a beta of 0.56. Over the past twelve months, Amgen's stock has fluctuated between a low of $253.30 and a high of $346.85. The company currently has a fifty-day moving average of $280.87 and a 200-day moving average of $299.99. Regarding its financial position, Amgen has a quick ratio of 0.95, a current ratio of 1.26, and a debt-to-equity ratio of 9.62.

On February 4th, Amgen released its quarterly earnings report, revealing earnings per share of $5.31, surpassing analyst expectations of $5.04 by $0.27. The company's return on equity stood at 176.32%, along with a net margin of 12.24%. Analysts anticipate Amgen will achieve earnings per share of 20.62 for the current fiscal year.

Amgen Increases Its Dividend

Additionally, Amgen has announced a quarterly dividend, scheduled for payment on March 7th. Shareholders recorded on February 14th will receive a dividend of $2.38. This annualized yield amounts to $9.52, reflecting a positive adjustment from the previous dividend of $2.25. The ex-dividend date is noted as February 14th. Presently, Amgen's dividend payout ratio stands at 126.09%.

About Amgen

Amgen Inc. is a biopharmaceutical company that focuses on discovering, developing, manufacturing, and delivering therapeutic products globally. Its key products include Enbrel, Otezla, Prolia, and Repatha, among others, which treat a variety of conditions ranging from autoimmune diseases to cancer.

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