Allstate Corp Has $5.54 Million Stock Position in Amgen Inc. $AMGN

Allstate Corp increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1,673.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,615 shares of the medical research company’s stock after acquiring an additional 18,509 shares during the period. Allstate Corp’s holdings in Amgen were worth $5,535,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC increased its stake in shares of Amgen by 1.9% in the third quarter. NorthCrest Asset Manangement LLC now owns 104,497 shares of the medical research company’s stock valued at $30,883,000 after buying an additional 1,948 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Amgen by 0.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 400,586 shares of the medical research company’s stock worth $118,389,000 after acquiring an additional 1,401 shares during the last quarter. DeDora Capital Inc. increased its position in Amgen by 2.8% in the 3rd quarter. DeDora Capital Inc. now owns 6,604 shares of the medical research company’s stock valued at $1,864,000 after acquiring an additional 177 shares during the period. Rovin Capital UT ADV raised its stake in shares of Amgen by 3.5% during the third quarter. Rovin Capital UT ADV now owns 1,577 shares of the medical research company’s stock valued at $445,000 after acquiring an additional 53 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Amgen by 0.8% during the third quarter. Amalgamated Bank now owns 114,954 shares of the medical research company’s stock worth $32,440,000 after purchasing an additional 933 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $330.41 on Monday. The firm has a market capitalization of $177.92 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.94 and a beta of 0.45. The firm’s 50-day moving average price is $331.56 and its 200-day moving average price is $306.19. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 1-year low of $261.43 and a 1-year high of $346.38.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. Amgen had a return on equity of 162.59% and a net margin of 19.47%.The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $8.98 billion. During the same quarter last year, the company earned $5.58 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This is an increase from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Analyst Ratings Changes

Several brokerages have commented on AMGN. Daiwa Capital Markets lifted their target price on Amgen from $310.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Argus raised their price target on shares of Amgen from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Guggenheim boosted their price target on shares of Amgen from $288.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Bank of America increased their price objective on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a research report on Friday, September 26th. Finally, Citigroup lifted their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $339.45.

Insider Transactions at Amgen

In related news, EVP Murdo Gordon sold 6,879 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the transaction, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,908 shares of company stock valued at $3,674,966 over the last three months. Company insiders own 0.76% of the company’s stock.

Amgen Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.