Allspring Global Investments Holdings LLC Sells 5,263 Shares of Amgen Inc. (NASDAQ:AMGN)

Allspring Global Investments Holdings LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 258,284 shares of the medical research company’s stock after selling 5,263 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Amgen were worth $73,435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter worth $29,000. Planned Solutions Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $30,000. Delos Wealth Advisors LLC increased its position in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. increased its position in shares of Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Truist Financial restated a “buy” rating and issued a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Mizuho raised their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Royal Bank of Canada raised their price target on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, Morgan Stanley raised their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

Amgen Price Performance

Amgen stock traded down $2.12 during mid-day trading on Tuesday, hitting $308.89. 151,498 shares of the company traded hands, compared to its average volume of 2,762,243. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The stock has a market cap of $165.70 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock has a fifty day moving average price of $301.56 and a 200-day moving average price of $292.30.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.98 EPS. On average, equities analysts predict that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.