Amgen Inc. (NASDAQ:AMGN) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 248,502 shares of the medical research company’s stock after selling 1,077 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Amgen were worth $71,574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the fourth quarter worth approximately $29,000. United Community Bank purchased a new stake in Amgen in the 4th quarter valued at $29,000. Planned Solutions Inc. purchased a new stake in Amgen in the 4th quarter valued at $30,000. Delos Wealth Advisors LLC grew its holdings in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Finally, Providence Capital Advisors LLC purchased a new stake in Amgen in the 3rd quarter valued at $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Mizuho upped their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Raymond James began coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Finally, UBS Group boosted their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $305.65.

Get Our Latest Report on AMGN

Amgen Price Performance

Shares of AMGN traded down $0.05 on Tuesday, hitting $307.37. The company’s stock had a trading volume of 1,830,108 shares, compared to its average volume of 2,828,142. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The company has a 50 day moving average price of $288.87 and a 200 day moving average price of $287.45. Amgen Inc. has a fifty-two week low of $215.32 and a fifty-two week high of $329.72. The company has a market capitalization of $164.88 billion, a PE ratio of 43.91, a PEG ratio of 2.76 and a beta of 0.60.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is presently 128.57%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.69% of the company’s stock.

Amgen Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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