Allworth Financial LP Has $9.58 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Allworth Financial LP lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,035 shares of the medical research company's stock after buying an additional 10,002 shares during the quarter. Allworth Financial LP's holdings in Amgen were worth $9,580,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Principal Securities Inc. boosted its stake in Amgen by 0.8% during the 4th quarter. Principal Securities Inc. now owns 13,612 shares of the medical research company's stock worth $3,548,000 after acquiring an additional 111 shares during the last quarter. Centerpoint Advisory Group bought a new position in Amgen during the 4th quarter worth approximately $301,000. Palumbo Wealth Management LLC boosted its stake in Amgen by 3.2% during the 4th quarter. Palumbo Wealth Management LLC now owns 1,379 shares of the medical research company's stock worth $359,000 after acquiring an additional 43 shares during the last quarter. bLong Financial LLC bought a new position in Amgen during the 4th quarter worth approximately $769,000. Finally, Congress Asset Management Co. boosted its stake in Amgen by 16.6% during the 4th quarter. Congress Asset Management Co. now owns 62,436 shares of the medical research company's stock worth $16,273,000 after acquiring an additional 8,895 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AMGN shares. Wolfe Research initiated coverage on shares of Amgen in a research note on Friday, November 15th. They set a "peer perform" rating on the stock. Citigroup cut their price target on shares of Amgen from $310.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Piper Sandler Companies reaffirmed an "overweight" rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $314.09.

Amgen Stock Performance

Shares of Amgen stock traded up $3.66 during trading on Thursday, reaching $297.93. The company's stock had a trading volume of 2,318,955 shares, compared to its average volume of 3,120,625. The business's 50-day moving average price is $275.15 and its 200-day moving average price is $300.77. The firm has a market cap of $160.05 billion, a PE ratio of 39.46, a P/E/G ratio of 2.54 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Equities analysts forecast that Amgen Inc. will post 20.6 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.20%. Amgen's dividend payout ratio is currently 126.09%.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the transaction, the executive vice president now owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company's stock, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,405 shares of company stock valued at $10,410,596 over the last quarter. 0.69% of the stock is owned by company insiders.

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.