Connor Clark & Lunn Investment Management Ltd. Has $14.12 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 89.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,176 shares of the medical research company’s stock after buying an additional 25,541 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Amgen were worth $14,120,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMGN. Avantax Advisory Services Inc. grew its position in shares of Amgen by 3.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 86,974 shares of the medical research company’s stock valued at $22,669,000 after purchasing an additional 2,562 shares during the last quarter. Liberty Wealth Management LLC grew its position in Amgen by 2.5% during the fourth quarter. Liberty Wealth Management LLC now owns 2,545 shares of the medical research company’s stock worth $663,000 after buying an additional 62 shares in the last quarter. Truvestments Capital LLC grew its position in Amgen by 9.6% during the fourth quarter. Truvestments Capital LLC now owns 791 shares of the medical research company’s stock worth $206,000 after buying an additional 69 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Amgen during the fourth quarter worth approximately $418,000. Finally, Sequoia Financial Advisors LLC grew its position in Amgen by 6.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 143,836 shares of the medical research company’s stock worth $37,489,000 after buying an additional 9,254 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMGN. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Redburn Partners cut their target price on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Finally, Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $314.04.

Insiders Place Their Bets

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. 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 currently owned by company insiders.

Amgen Stock Up 0.0 %

Amgen stock opened at $312.64 on Friday. The firm has a 50 day simple moving average of $290.77 and a 200 day simple moving average of $299.61. The firm has a market capitalization of $167.95 billion, a price-to-earnings ratio of 41.41, a P/E/G ratio of 2.63 and a beta of 0.53. 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 Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

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.