CIBC Asset Management Inc Purchases 34,299 Shares of Amgen Inc. (NASDAQ:AMGN)

CIBC Asset Management Inc increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 369,511 shares of the medical research company’s stock after buying an additional 34,299 shares during the quarter. CIBC Asset Management Inc owned 0.07% of Amgen worth $96,309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in shares of Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after acquiring an additional 17,387 shares during the period. Creative Planning raised its stake in shares of Amgen by 8.6% in the 3rd quarter. Creative Planning now owns 197,457 shares of the medical research company’s stock valued at $63,402,000 after purchasing an additional 15,564 shares during the period. Swedbank AB lifted its holdings in shares of Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after purchasing an additional 5,751 shares in the last quarter. Inspire Advisors LLC acquired a new position in shares of Amgen during the third quarter worth about $204,000. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Amgen by 14.4% during the third quarter. Stratos Wealth Partners LTD. now owns 29,029 shares of the medical research company’s stock worth $9,354,000 after buying an additional 3,658 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’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 value of $483,802.83. Following the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $314.09.

Amgen Stock Down 2.0 %

Shares of NASDAQ AMGN opened at $291.16 on Monday. The stock’s fifty day moving average is $274.12 and its 200 day moving average is $301.42. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market capitalization of $156.51 billion, a P/E ratio of 38.56, a PEG ratio of 3.01 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts forecast that Amgen Inc. will post 20.59 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 119.21%.

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.