Allspring Global Investments Holdings LLC Has $21.33 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Allspring Global Investments Holdings LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,507 shares of the medical research company's stock after selling 3,162 shares during the period. Allspring Global Investments Holdings LLC's holdings in Amgen were worth $21,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Vanguard Group Inc. lifted its position in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the last quarter. Capital International Investors boosted its position in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Capital World Investors increased its holdings in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $307.82.

Amgen Price Performance

AMGN stock traded up $1.40 during mid-day trading on Thursday, hitting $298.25. The stock had a trading volume of 1,518,529 shares, compared to its average volume of 2,842,825. The firm has a fifty day simple moving average of $281.75 and a 200 day simple moving average of $286.35. The firm has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.68 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

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.