Commerce Bank Buys 5,119 Shares of Amgen Inc. (NASDAQ:AMGN)

Commerce Bank raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 381,263 shares of the medical research company's stock after purchasing an additional 5,119 shares during the quarter. Amgen comprises approximately 0.8% of Commerce Bank's investment portfolio, making the stock its 28th biggest holding. Commerce Bank owned 0.07% of Amgen worth $122,847,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the third quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMGN shares. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 1st. Truist Financial lowered shares of Amgen from a "buy" rating to a "hold" rating and raised their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. TD Cowen raised their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating for the company. Finally, UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $333.57.

Amgen Price Performance

Shares of Amgen stock traded up $4.84 during midday trading on Wednesday, hitting $284.79. 2,700,312 shares of the company traded hands, compared to its average volume of 2,461,463. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a market cap of $153.08 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.53 and a beta of 0.60. The firm's fifty day moving average price is $318.92 and its 200-day moving average price is $318.43.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. The company's quarterly revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.16%. Amgen's dividend payout ratio is currently 115.24%.

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.