Allianz SE Invests in Amgen Inc. with $9.93 Million Deal

Allianz SE has announced a significant investment in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission (SEC). The company acquired 38,306 shares of Amgen, equating to a value of approximately $9,933,000.

Investor Activity Surrounding Amgen

Allianz is not alone in its interest in Amgen's stock; several other large investors have also adjusted their holdings. For instance, Blossom Wealth Management increased its stake in Amgen by 3.5% during the fourth quarter, now holding 1,090 shares worth about $284,000 after adding 37 shares to its portfolio. Similarly, Zullo Investment Group Inc. raised its position by 2.8% and owns 1,364 shares valued at $356,000 following the acquisition of 37 additional shares. Furthermore, Trillium Asset Management boosted its stake by 4.2%, now possessing 911 shares worth $237,000 after purchasing extra shares. Prestige Wealth Management Group LLC and Evermay Wealth Management LLC also reported increases in their holdings in Amgen shares during the third and fourth quarters, respectively.

Overall, institutional investors and hedge funds own approximately 76.50% of Amgen's stock, indicating strong support from the investing community.

Analyst Ratings and Price Target Updates

Recent reports from equities research analysts show a mixed outlook on Amgen's stock. Bank of America raised its price target for Amgen from $275.00 to $294.00, assigning an "underperform" rating. Conversely, Piper Sandler lifted its price objective from $310.00 to $329.00, labeling the stock as "overweight." Truist Financial lowered its target from $333.00 to $298.00 while maintaining a "hold" rating, and Wells Fargo reaffirmed its "equal weight" rating in its latest research. Currently, the average rating for Amgen's stock stands at "Moderate Buy," with an average price target of $314.04.

Amgen Stock Performance

As of the most recent trading session, Amgen's shares opened at $306.95. The company boasts a market capitalization of $164.90 billion and a price-to-earnings ratio of 40.66. Emphasizing stability, Amgen has a beta of 0.53, with a 50-day moving average of $301.08 and a 200-day moving average of $298.38. The stock experienced fluctuations within a 52-week range, hitting a low of $253.30 and a high of $346.85.

Amgen's Quarterly Earnings and Dividends

Amgen recently reported its quarterly earnings, showing an earnings per share (EPS) of $5.31, surpassing analysts' expectations of $5.04. Analysts predict that Amgen will post an EPS of 20.62 for the current fiscal year. Additionally, Amgen announced a quarterly dividend scheduled for June 6th, with stockholders of record receiving $2.38. This reflects an annualized dividend of $9.52, indicating a dividend yield of 3.10% and a payout ratio currently at 126.09%.

Insider Trading Activity

In related news, there has been notable insider trading activity at Amgen. On February 5th, Senior Vice President Nancy A. Grygiel sold 1,589 shares for approximately $483,802.83. Following this sale, she holds 7,210 shares worth nearly $2.2 million. Additionally, Executive Vice President David M. Reese sold 25,225 shares for about $7.68 million. Over the last quarter, insiders sold a total of 69,341 shares for a combined value of over $20.64 million, with insiders currently owning about 0.69% of the total stock.

Overview of Amgen

Amgen Inc. is a leader in discovering, developing, manufacturing, and delivering human therapeutics globally. The company's main products include Enbrel, for treating plaque psoriasis, and Otezla, aimed at patients with plaque psoriasis and psoriatic arthritis. Amgen also produces Prolia for osteoporosis, XGEVA for skeletal events prevention, and Repatha, which assists in reducing risks related to myocardial infarction and strokes. Its extensive portfolio showcases a commitment to developing innovative therapies for various medical conditions.

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