Allstate Corp Has $13.13 Million Holdings in Amgen Inc. $AMGN

Key Points

• Allstate Corp more than doubled its stake in Amgen during the fourth quarter, increasing holdings by 104.6% to 40,126 shares valued at about $13.13 million.
• Amgen continues to attract major institutional interest, with firms like Vanguard and Capital World Investors also boosting positions; institutional and hedge fund investors now own 76.5% of the stock.
• The company reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $2.52 per share, implying a 3.0% annual yield.

Allstate Corp increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 104.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,126 shares of the medical research company's stock after acquiring an additional 20,511 shares during the period. Allstate Corp's holdings in Amgen were worth $13,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AMGN. Capital World Investors boosted its position in shares of Amgen by 11.5% during the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company's stock worth $5,303,578,000 after acquiring an additional 1,935,876 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Amgen by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after acquiring an additional 961,975 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Amgen by 237.7% during the 3rd quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company's stock worth $346,076,000 after acquiring an additional 863,216 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Amgen by 71.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,358,092 shares of the medical research company's stock worth $383,254,000 after acquiring an additional 567,400 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Amgen by 91.6% during the 3rd quarter. Fisher Asset Management LLC now owns 785,284 shares of the medical research company's stock worth $221,607,000 after acquiring an additional 375,463 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. Deutsche Bank Aktiengesellschaft increased their price target on shares of Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a research report on Thursday, February 5th. Truist Financial increased their price target on shares of Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. TD Cowen restated a "buy" rating on shares of Amgen in a research report on Wednesday, February 4th. Morgan Stanley set a $332.00 target price on shares of Amgen in a research report on Friday, May 1st. Finally, Daiwa Securities Group cut their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $355.19.

Amgen Stock Performance

Shares of Amgen stock opened at $339.30 on Tuesday. Amgen Inc. has a fifty-two week low of $267.83 and a fifty-two week high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market capitalization of $183.11 billion, a P/E ratio of 23.61, a P/E/G ratio of 3.41 and a beta of 0.44. The company's 50 day moving average price is $344.53 and its two-hundred day moving average price is $345.02.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, May 15th. Amgen's dividend payout ratio is presently 70.15%.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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