Cibc World Markets Corp Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cibc World Markets Corp grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,112 shares of the medical research company’s stock after purchasing an additional 8,811 shares during the period. Cibc World Markets Corp’s holdings in Amgen were worth $62,062,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Amgen in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen in the third quarter worth about $29,000. Synergy Investment Management LLC acquired a new position in shares of Amgen in the fourth quarter worth about $34,000. Atala Financial Inc purchased a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter valued at approximately $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total value of $2,554,239.42. Following the sale, the executive vice president now directly owns 62,147 shares in the company, valued at $18,222,743.34. The trade was a 12.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMGN shares. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Piper Sandler boosted their target price on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Redburn Partners reduced their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.04.

Amgen Stock Up 0.3 %

Amgen stock opened at $313.71 on Monday. The company’s 50-day moving average price is $291.82 and its two-hundred day moving average price is $299.12. The stock has a market cap of $168.53 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.63 and a beta of 0.53. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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 (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

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.