Allianz SE Invests $9.93 Million in Amgen Inc. (NASDAQ:AMGN)

Allianz SE bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,306 shares of the medical research company’s stock, valued at approximately $9,933,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beutel Goodman & Co Ltd. lifted its holdings in Amgen by 15.7% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,272,425 shares of the medical research company’s stock worth $331,644,000 after acquiring an additional 172,542 shares in the last quarter. Biondo Investment Advisors LLC lifted its position in Amgen by 2.3% during the 4th quarter. Biondo Investment Advisors LLC now owns 33,317 shares of the medical research company’s stock worth $8,684,000 after buying an additional 735 shares in the last quarter. Allstate Corp acquired a new position in shares of Amgen during the 4th quarter worth about $4,157,000. DnB Asset Management AS raised its holdings in Amgen by 1.9% during the fourth quarter. DnB Asset Management AS now owns 164,774 shares of the medical research company’s stock worth $42,947,000 after acquiring an additional 3,017 shares in the last quarter. Finally, Level Four Advisory Services LLC boosted its holdings in shares of Amgen by 2.4% in the 4th quarter. Level Four Advisory Services LLC now owns 13,485 shares of the medical research company’s stock valued at $3,515,000 after buying an additional 318 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock worth $20,644,335 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Finally, Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.04.

Amgen Stock Performance

NASDAQ AMGN opened at $306.95 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company’s 50 day simple moving average is $301.08 and its two-hundred day simple moving average is $298.38. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a market capitalization of $164.90 billion, a PE ratio of 40.66, a P/E/G ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. Amgen’s dividend payout ratio is presently 126.09%.

Amgen 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.