CIBC Asset Management Inc Buys 16,134 Shares of Amgen Inc. (NASDAQ:AMGN)

CIBC Asset Management Inc boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,212 shares of the medical research company’s stock after purchasing an additional 16,134 shares during the period. CIBC Asset Management Inc owned about 0.06% of Amgen worth $108,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meyer Handelman Co. grew its position in shares of Amgen by 7.2% in the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after acquiring an additional 8,700 shares during the period. EP Wealth Advisors LLC raised its position in shares of Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares in the last quarter. Cornerstone Capital Inc. lifted its stake in Amgen by 3.2% during the third quarter. Cornerstone Capital Inc. now owns 106,538 shares of the medical research company’s stock worth $34,328,000 after purchasing an additional 3,260 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in Amgen in the second quarter valued at about $3,354,000. Finally, Verity & Verity LLC grew its holdings in shares of Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock valued at $25,736,000 after purchasing an additional 2,182 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMGN shares. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. TD Cowen raised their target price on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Stock Performance

Amgen stock opened at $295.93 on Friday. The firm’s 50 day simple moving average is $322.15 and its 200 day simple moving average is $318.15. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 1-year low of $260.52 and a 1-year high of $346.85. The firm has a market capitalization of $159.07 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60.

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

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 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.