Nuveen Asset Management LLC Has $631.60 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Nuveen Asset Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 34.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,423,275 shares of the medical research company’s stock after selling 1,257,138 shares during the period. Nuveen Asset Management LLC’s holdings in Amgen were worth $631,602,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Beck Mack & Oliver LLC increased its stake in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares in the last quarter. Blossom Wealth Management lifted its position in shares of Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock valued at $284,000 after acquiring an additional 37 shares in the last quarter. Zullo Investment Group Inc. boosted its stake in shares of Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after acquiring an additional 37 shares during the period. Trillium Asset Management LLC grew its position in shares of 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 in the last quarter. Finally, Evermay Wealth Management LLC lifted its holdings in Amgen by 1.5% in the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Royal Bank of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Finally, Citigroup reiterated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $310.23.

Insider Buying and Selling at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction 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 approximately $11,240,533.68. The trade was a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by corporate insiders.

Amgen Price Performance

AMGN stock opened at $270.45 on Wednesday. The stock has a market cap of $145.42 billion, a PE ratio of 35.82, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50-day moving average price of $294.29 and a 200 day moving average price of $289.08. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed 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. This represents a $9.52 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 86.86%.

About Amgen

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.