CIBC Private Wealth Group LLC Buys 10,946 Shares of Amgen Inc. (NASDAQ:AMGN)

CIBC Private Wealth Group LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,563 shares of the medical research company’s stock after purchasing an additional 10,946 shares during the period. CIBC Private Wealth Group LLC’s holdings in Amgen were worth $86,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter valued at $29,000. Synergy Investment Management LLC bought a new position in Amgen in the fourth quarter worth $34,000. Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at $36,000. Institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares in the company, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last three months. Insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.4 %

Shares of AMGN opened at $306.95 on Monday. The stock’s fifty day simple moving average is $301.08 and its 200-day simple moving average is $297.94. The firm has a market capitalization of $164.90 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) 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 predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

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

Analyst Ratings Changes

AMGN has been the subject of a number of analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Piper Sandler upped their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Citigroup restated a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, UBS Group reiterated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen currently 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.