Allspring Global Investments Holdings LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Allspring Global Investments Holdings LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 69.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,549 shares of the medical research company’s stock after purchasing an additional 104,533 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amgen were worth $68,413,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Roundview Capital LLC boosted its holdings in Amgen by 1.3% in the 1st quarter. Roundview Capital LLC now owns 8,383 shares of the medical research company’s stock worth $2,027,000 after buying an additional 107 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Amgen by 39.2% during the 1st quarter. Merit Financial Group LLC now owns 2,297 shares of the medical research company’s stock valued at $555,000 after acquiring an additional 647 shares during the last quarter. Ergoteles LLC purchased a new stake in shares of Amgen during the 1st quarter valued at approximately $219,000. First Western Trust Bank purchased a new position in Amgen during the first quarter worth about $334,000. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Amgen by 2.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,688 shares of the medical research company’s stock valued at $5,970,000 after buying an additional 513 shares in the last quarter. 74.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMGN shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price on shares of Amgen in a report on Friday, October 20th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday. Argus increased their target price on shares of Amgen from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. SVB Leerink raised Amgen from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $267.00 to $318.00 in a research report on Wednesday, October 11th. Finally, BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $285.71.

View Our Latest Analysis on Amgen

Insider Buying and Selling

In related news, EVP Jonathan P. Graham sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total value of $2,728,100.00. Following the sale, the executive vice president now owns 28,078 shares of the company’s stock, valued at approximately $7,659,959.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Jonathan P. Graham sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $272.81, for a total transaction of $2,728,100.00. Following the completion of the transaction, the executive vice president now directly owns 28,078 shares in the company, valued at $7,659,959.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 2,096 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $273.03, for a total value of $572,270.88. Following the transaction, the senior vice president now owns 10,874 shares of the company’s stock, valued at approximately $2,968,928.22. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $303.10 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.56 and a debt-to-equity ratio of 7.71. The company’s 50-day moving average price is $277.97 and its 200 day moving average price is $262.14. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $311.05. The stock has a market cap of $162.21 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.79 and a beta of 0.58.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Tuesday, October 31st. The medical research company reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.65 by $0.31. Amgen had a return on equity of 165.37% and a net margin of 28.20%. The business had revenue of $6.90 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the company earned $4.70 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 18.64 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date is Thursday, February 15th. Amgen’s payout ratio is 60.55%.

Amgen Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

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