Amgen Inc. (NASDAQ:AMGN) Position Raised by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 328,563 shares of the medical research company’s stock after acquiring an additional 10,946 shares during the period. CIBC Private Wealth Group LLC owned 0.06% of Amgen worth $86,810,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Amgen during the fourth quarter valued at about $1,541,991,000. Charles Schwab Investment Management Inc. increased its stake in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Amgen during the 4th quarter worth about $401,913,000. Van ECK Associates Corp lifted its stake in shares of Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after acquiring an additional 753,147 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $306.95 on Monday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $164.90 billion, a PE ratio of 40.66, a PEG ratio of 2.63 and a beta of 0.53. The firm’s 50 day moving average price is $301.08 and its 200 day moving average price is $297.94. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. Amgen’s dividend payout ratio is currently 126.09%.

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. Bank of America upped their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $324.00 price target on shares of Amgen in a report on Friday, January 24th. Piper Sandler Companies reissued an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Truist Financial cut their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.04.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s 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 sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David M. Reese sold 8,711 shares of Amgen stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the transaction, the executive vice president now directly owns 62,147 shares in the company, valued at approximately $18,222,743.34. This represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by corporate insiders.

Amgen 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.