Amgen Announces $5 Billion Share Repurchase

Amgen has announced a $5 billion share buyback. I am short a good number of AMGN puts. If the stock pulls back in the coming weeks I will look to buy shares outright. They have a ton of cash and a cheap stock price. The buyback is a no brainer and increases shareholder value.

2 comments:

Anonymous said...

If they go thru with it. Lots of company say they are doing buybacks then don't or greatly lower the amount.

Tsachy Mishal said...

That is correct. I don't believe they will repurchase it all right now but I do believe they will repurchase shares. I was happy to see that they already repurchased $1 billion worth this quarter. They have not been buying back stock the past few quarters.