Allianz SE Makes New $9.93 Million Investment in Amgen Inc. (NASDAQ:AMGN)

Allianz SE acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,306 shares of the medical research company’s stock, valued at approximately $9,933,000.

Several other large investors have also recently bought and sold shares of the stock. Blossom Wealth Management boosted its stake in shares of Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after purchasing an additional 37 shares during the last quarter. Zullo Investment Group Inc. raised its stake in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after acquiring an additional 37 shares during the period. Trillium Asset Management LLC boosted its position in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after purchasing an additional 37 shares during the period. Prestige Wealth Management Group LLC raised its position in shares of Amgen by 2.8% in the third quarter. Prestige Wealth Management Group LLC now owns 1,387 shares of the medical research company’s stock valued at $447,000 after purchasing an additional 38 shares during the period. Finally, Evermay Wealth Management LLC lifted its stake in shares of Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock valued at $691,000 after buying an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial lowered their price target on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.04.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $306.95 on Friday. The company has a market capitalization of $164.90 billion, a price-to-earnings ratio of 40.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a 50 day moving average of $301.08 and a two-hundred day moving average of $298.38. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating 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%. As a group, analysts forecast 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. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by corporate insiders.

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.