Allspring Global Investments Holdings LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,669 shares of the medical research company's stock after selling 68,206 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Amgen were worth $18,842,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of AMGN. AMF Tjanstepension AB grew its position in Amgen by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company's stock valued at $38,825,000 after purchasing an additional 17,387 shares during the period. Creative Planning grew its position in Amgen by 8.6% in the 3rd quarter. Creative Planning now owns 197,457 shares of the medical research company's stock valued at $63,402,000 after purchasing an additional 15,564 shares during the period. Swedbank AB grew its position in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company's stock valued at $173,639,000 after purchasing an additional 5,751 shares during the period. Inspire Advisors LLC acquired a new stake in Amgen in the 3rd quarter valued at $204,000. Finally, Stratos Wealth Partners LTD. grew its position in Amgen by 14.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 29,029 shares of the medical research company's stock valued at $9,354,000 after purchasing an additional 3,658 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.
Insider Activity
In other news, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction dated 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 approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 over the last ninety days. Company insiders own 0.69% of the company's stock.
Amgen Stock Performance
Amgen stock traded up $3.66 during midday trading on Thursday, reaching $297.93. The stock had a trading volume of 2,318,741 shares, compared to its average volume of 3,120,615. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm's 50-day moving average price is $275.15 and its 200 day moving average price is $300.77. The firm has a market capitalization of $160.05 billion, a PE ratio of 39.46, a P/E/G ratio of 2.54 and a beta of 0.56. 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 quarterly earnings data 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 return on equity of 176.32% and a net margin of 12.24%. As a group, research analysts predict that Amgen Inc. will post 20.6 earnings per share for the current fiscal year.
Amgen Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.20%. Amgen's dividend payout ratio is currently 126.09%.
Analysts Set New Price Targets
Several analysts recently issued reports on AMGN shares. Wells Fargo & Company reduced their price target on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Piper Sandler lifted their price objective on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $314.09.
View Our Latest Research Report on Amgen
About Amgen
(
Free Report)
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.
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