CIBC Asset Management Inc Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

CIBC Asset Management Inc raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,511 shares of the medical research company's stock after buying an additional 34,299 shares during the period. CIBC Asset Management Inc owned about 0.07% of Amgen worth $96,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Talbot Financial LLC raised its stake in shares of Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Swiss National Bank raised its stake in shares of Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company's stock valued at $513,033,000 after acquiring an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC raised its stake in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company's stock valued at $11,578,000 after acquiring an additional 2,954 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company's stock valued at $204,659,000 after acquiring an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company's stock valued at $19,581,000 after acquiring an additional 1,872 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN traded up $3.66 during trading on Thursday, reaching $297.93. The company's stock had a trading volume of 2,318,955 shares, compared to its average volume of 3,120,625. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company's fifty day moving average price is $275.15 and its 200-day moving average price is $300.77. The company has a market capitalization of $160.05 billion, a price-to-earnings ratio of 39.46, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts forecast that Amgen Inc. will post 20.6 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. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen's previous quarterly dividend of $2.25. Amgen's payout ratio is currently 126.09%.

Insider Buying and Selling at Amgen

In other 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 transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,405 shares of company stock valued at $10,410,596. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. Wells Fargo & Company reduced their price objective on Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a research note on Friday, January 10th. Leerink Partners cut their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Citigroup cut their price target on Amgen from $310.00 to $295.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft cut their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Finally, Bank of America raised their price target on Amgen from $256.00 to $275.00 and gave the company an "underperform" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $314.09.

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.