Allspring Global Investments Holdings LLC Reduces Stake in Amgen Inc. (NASDAQ:AMGN)

Allspring Global Investments Holdings LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 41.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,966 shares of the medical research company’s stock after selling 106,318 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amgen were worth $47,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Amgen during the 4th quarter valued at about $32,880,000. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in Amgen by 1,089.5% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 108,838 shares of the medical research company’s stock worth $31,348,000 after purchasing an additional 99,688 shares during the last quarter. Kovack Advisors Inc. raised its stake in Amgen by 5.0% during the fourth quarter. Kovack Advisors Inc. now owns 2,983 shares of the medical research company’s stock worth $859,000 after purchasing an additional 141 shares during the period. Consolidated Planning Corp purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $210,000. Finally, Paradigm Financial Partners LLC increased its holdings in shares of Amgen by 24.8% during the 4th quarter. Paradigm Financial Partners LLC now owns 13,834 shares of the medical research company’s stock worth $3,984,000 after buying an additional 2,750 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BMO Capital Markets raised their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley lowered their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Mizuho boosted their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Stock Up 0.0 %

Shares of Amgen stock opened at $326.93 on Wednesday. Amgen Inc. has a 12-month low of $248.38 and a 12-month high of $346.85. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $175.38 billion, a PE ratio of 46.70, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The stock’s fifty day moving average is $323.17 and its 200-day moving average is $299.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the company posted $5.00 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is 128.57%.

Amgen Company Profile

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.