Amgen Inc . (NASDAQ:AMGN) Senior Vice President and Chief Compliance Officer Nancy A. Grygiel has sold 2,117 shares of the company's common stock, according to a recent SEC filing. The transaction, dated May 3, 2024, totaled over $660,000, with the average price per share being approximately $313.09.
The disclosed sale price represents an average, with individual shares sold at prices ranging from $313.071 to $313.0923. The exact number of shares sold at each price within this range is available upon request to the SEC staff, the issuer, or a security holder of the issuer.
Following the sale, Grygiel's direct holdings in Amgen stock amount to 9,883 shares. Additionally, the filing noted that Grygiel has indirect ownership of approximately 100 shares through the company's 401(k) plan, which represents interests in Amgen's stock fund.
The SEC filing also included footnotes indicating that Grygiel's remaining direct shares include various Restricted Stock Units (RSUs) that are set to vest at future dates between 2024 and 2027. Moreover, these shares are inclusive of 443 Dividend Equivalents (DEs) credited on unvested RSUs, which will be paid out according to the vesting schedule.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's stock value and future performance. However, such transactions can be motivated by a variety of personal financial considerations and do not always indicate a change in company outlook.
InvestingPro Insights
Amgen Inc. (NASDAQ:AMGN) has been in the spotlight following the recent insider stock sale by Senior Vice President and Chief Compliance Officer Nancy A. Grygiel. To provide our readers with a deeper understanding of the company's financial health and market performance, we've sourced key metrics and insights from InvestingPro.
InvestingPro Data indicates that Amgen has a market capitalization of $167.0 billion and a robust revenue growth of 12.76% over the last twelve months as of Q1 2024. This financial strength is further reflected in the company's gross profit margin, which stands at an impressive 70.41%. Additionally, Amgen's price has been performing well, with a total return of 40.34% over the past year, signaling strong investor confidence.
Looking at the company's stock valuation, the P/E Ratio (Adjusted) as of the last twelve months ending Q1 2024 is 29.97, which may suggest a higher expectation of future growth compared to the industry average. The Price / Book ratio also stands at a high 33.25, pointing to a premium valuation of the company's net assets.
Among the InvestingPro Tips, two stand out as particularly relevant in the context of the insider sale. Firstly, Amgen has demonstrated a commitment to shareholder returns, having raised its dividend for 13 consecutive years, which is a positive signal for investors looking for stable income. Secondly, the stock is currently trading at a high earnings multiple, which could indicate that it is valued optimistically by the market.
For investors interested in a deeper dive into Amgen's performance and potential, there are 17 additional InvestingPro Tips available at InvestingPro. These tips cover a range of metrics from analyst predictions to stock valuation, providing a comprehensive view of the company's prospects. To access these insights and more, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While insider transactions like Grygiel's sale can offer some indication of a company's internal perspective, it's essential to consider the broader financial context provided by these InvestingPro Insights to make informed investment decisions.
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