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New Big Money Means Amgen Inc. (AMGN) Investors Could Reap Benefit

2,843 institutions hold shares in Amgen Inc. (AMGN), with 1.12M shares held by insiders accounting for 0.19% while institutional investors hold 77.59% of the company’s shares. The shares outstanding are 580.00M, and float is at 576.45M with Short Float at 1.71%. Institutions hold 77.44% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 47.81 million shares valued at $10.99 billion. The investor’s holdings represent 8.28% of the AMGN Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 47.23 million shares valued at $10.86 billion to account for 8.18% of the shares outstanding. The other top investors are Capital Research Global Investors which holds 31.76 million shares representing 5.50% and valued at over $7.3 billion, while State Street Corporation holds 5.21% of the shares totaling 30.09 million with a market value of $6.92 billion.

Amgen Inc. (NASDAQ: AMGN) is 9.61% higher on its value in year-to-date trading and has touched a low of $194.21 and a high of $276.69 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The AMGN stock was last observed hovering at around $249.17 in the last trading session, with the day’s gains setting it 2.85% off its average median price target of $265.00 for the next 12 months. It is also 16.27% off the consensus price target high of $301.00 offered by 29 analysts, but current levels are -36.23% lower than the price target low of $185.00 for the same period.

Currently trading at $252.02, the stock is 4.38% and 5.50% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.23 million and changing 1.14% at the moment leaves the stock 5.56% off its SMA200. AMGN registered 20.65% gain for a year compared to 6-month loss of -1.32%. The firm has a 50-day simple moving average (SMA 50) of $236.56 and a 200-day simple moving average (SMA200) of $235.37.

The stock witnessed a 13.57% gain in the last 1 month and extending the period to 3 months gives it a 9.61%, and is -0.33% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.61% over the week and 2.11% over the month.

Amgen Inc. (AMGN) has around 24300 employees, a market worth around $145.35B and $25.42B in sales. Current P/E ratio is 20.46 and Fwd P/E is 13.83. Profit margin for the company is 28.60%. Distance from 52-week low is 29.77% and -8.92% from its 52-week high. The company has generated returns on investments over the last 12 months (19.50%).

Amgen Inc. (AMGN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Amgen Inc. (AMGN) is a “Overweight”. 29 analysts offering their recommendations for the stock have an average rating of 2.30, where 14 rate it as a Hold and 0 think it is a “Overweight”. 13 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Amgen Inc. is expected to release its quarterly report on 07/28/2021 and quarterly earnings per share for the current quarter are estimated at $4.05 with sales reaching $6.28B over the same period.The EPS is expected to shrink by -4.40% this year, but quarterly earnings will post 4.00% year-over-year. Quarterly sales are estimated to grow 2.00% in year-over-year returns.

Amgen Inc. (AMGN) Insider Activity

A total of 37 insider transactions have happened at Amgen Inc. (AMGN) in the last six months, with sales accounting for 20 and purchases happening 17 times. The most recent transaction is an insider sale by SUGAR RONALD D, the company’s Director. SEC filings show that SUGAR RONALD D sold 1,000 shares of the company’s common stock on Mar 10 at a price of $231.53 per share for a total of $0.23 million. Following the sale, the insider now owns 15805.0 shares.

Amgen Inc. disclosed in a document filed with the SEC on Feb 10 that SUGAR RONALD D (Director) sold a total of 1,000 shares of the company’s common stock. The trade occurred on Feb 10 and was made at $238.40 per share for $0.24 million. Following the transaction, the insider now directly holds 15805.0 shares of the AMGN stock.

Still, SEC filings show that on Feb 08, Williams R Sanders (Director) disposed off 250 shares at an average price of $237.99 for $59498.0. The insider now directly holds 4,659 shares of Amgen Inc. (AMGN).

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Amgen Inc. (AMGN): Who are the competitors?

The company’s main competitors (and peers) include Biogen Inc. (BIIB) that is trading -5.25% down over the past 12 months and Johnson & Johnson (JNJ) that is 22.74% higher over the same period. AbbVie Inc. (ABBV) is 41.28% up on the 1-year trading charts. Short interest in the company’s stock has risen 11.84% from the last report on Feb 11, 2021 to stand at a total of 8.71 million short shares sold with a short interest ratio of 3.85.

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