Allspring Global Investments Holdings LLC Has $19.01 Million Holdings in Amgen Inc. $AMGN

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Amgen Inc. by 5.9%, now owning approximately $19.01 million worth of shares.
• Several institutional investors have significantly increased their positions in Amgen during the first quarter, including Activest Wealth Management, which boosted its stake by 3,433.3%.
• Amgen declared a quarterly dividend of $2.38 per share, which translates to an annual yield of 3.2% and a dividend payout ratio of 77.84%.

Allspring Global Investments Holdings LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,437 shares of the medical research company's stock after selling 4,070 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Amgen were worth $19,011,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMGN. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the 1st quarter worth about $25,000. First Pacific Financial grew its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its holdings in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after purchasing an additional 85 shares in the last quarter. Activest Wealth Management lifted its stake in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock valued at $33,000 after buying an additional 103 shares during the period. Finally, Nova Wealth Management Inc. boosted its holdings in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after buying an additional 122 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 1.0%

AMGN opened at $298.81 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The firm has a market capitalization of $160.87 billion, a PE ratio of 24.43, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The company's 50-day moving average is $287.14 and its 200 day moving average is $287.27.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company posted $4.97 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMGN shares. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Morgan Stanley increased their price objective on shares of Amgen from $330.00 to $333.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Weiss Ratings upgraded Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. UBS Group dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Finally, William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $305.50.

About Amgen

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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