CIBC Private Wealth Group LLC Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

CIBC Private Wealth Group LLC increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 328,563 shares of the medical research company's stock after acquiring an additional 10,946 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.06% of Amgen worth $86,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen in the 3rd quarter worth about $29,000. Centricity Wealth Management LLC bought a new position in shares of Amgen during the fourth quarter valued at about $25,000. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter worth about $34,000. Atala Financial Inc purchased a new stake in Amgen in the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction 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 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 trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 over the last three months. 0.69% of the stock is owned by company insiders.

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Amgen Price Performance

Shares of AMGN traded up $5.15 during midday trading on Thursday, reaching $310.85. The stock had a trading volume of 1,600,487 shares, compared to its average volume of 2,703,015. The company has a market capitalization of $166.99 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth 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 12-month low of $253.30 and a 12-month high of $346.85. The company's 50-day moving average is $303.16 and its 200 day moving average is $297.69.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share 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%. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio is 126.09%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMGN shares. Citigroup reiterated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group reiterated a "hold" rating on shares of Amgen in a research note on Wednesday, February 12th. StockNews.com raised Amgen from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 29th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler Companies restated an "overweight" rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $314.04.

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.