CIBC Asset Management Inc Has $96.31 Million Stake in Amgen Inc. (NASDAQ:AMGN)

CIBC Asset Management Inc raised its stake in Amgen Inc. (NASDAQ:AMGN) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 369,511 shares of the medical research company’s stock after buying an additional 34,299 shares during the quarter. CIBC Asset Management Inc’s holdings in Amgen were worth $96,309,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMGN. Capital Performance Advisors LLP purchased a new position in shares of Amgen in the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 3rd quarter valued at $29,000. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth $36,000. PrairieView Partners LLC increased its holdings in Amgen by 118.3% during the fourth quarter. PrairieView Partners LLC now owns 179 shares of the medical research company’s stock worth $46,000 after buying an additional 97 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,405 shares of company stock valued at $10,410,596. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Finally, Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $314.09.

Amgen Price Performance

Shares of Amgen stock opened at $291.16 on Monday. The firm has a market capitalization of $156.51 billion, a PE ratio of 38.56, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business’s 50-day moving average price is $274.12 and its 200-day moving average price is $301.42.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 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%. Sell-side analysts forecast that Amgen Inc. will post 20.59 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.27%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is presently 119.21%.

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.