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.


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.