Allianz SE Buys Shares of 38,306 Amgen Inc. (NASDAQ:AMGN)

Allianz SE purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,306 shares of the medical research company's stock, valued at approximately $9,933,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the 3rd quarter worth $29,000. Centricity Wealth Management LLC acquired a new stake in Amgen in the fourth quarter valued at $25,000. Synergy Investment Management LLC purchased a new stake in Amgen during the 4th quarter worth about $34,000. Atala Financial Inc acquired a new position in shares of Amgen during the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In other news, EVP Jonathan P. Graham sold 25,045 shares of Amgen stock in a transaction on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now owns 28,987 shares of the company's stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. 0.69% of the stock is owned by insiders.

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Amgen Price Performance

Shares of NASDAQ AMGN traded down $1.32 during trading on Wednesday, hitting $305.60. 792,712 shares of the company were exchanged, compared to its average volume of 2,700,790. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market cap of $164.17 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 2.63 and a beta of 0.53. The firm's fifty day moving average price is $302.51 and its 200 day moving average price is $297.63.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.12%. Amgen's dividend payout ratio is presently 126.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Truist Financial dropped their target price on shares of Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $314.04.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.