Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Commerce Bank

Commerce Bank raised its stake in Amgen Inc. (NASDAQ:AMGN) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,003 shares of the medical research company’s stock after acquiring an additional 30,082 shares during the period. Amgen accounts for about 0.7% of Commerce Bank’s investment portfolio, making the stock its 29th biggest holding. Commerce Bank owned about 0.06% of Amgen worth $99,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. WealthPlan Investment Management LLC grew its holdings in Amgen by 82.6% in the 3rd quarter. WealthPlan Investment Management LLC now owns 840 shares of the medical research company’s stock worth $226,000 after buying an additional 380 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Amgen in the third quarter worth $288,000. Larson Financial Group LLC increased its holdings in shares of Amgen by 455.6% during the third quarter. Larson Financial Group LLC now owns 350 shares of the medical research company’s stock valued at $94,000 after purchasing an additional 287 shares during the period. MGO One Seven LLC raised its stake in shares of Amgen by 18.6% during the third quarter. MGO One Seven LLC now owns 6,095 shares of the medical research company’s stock valued at $1,638,000 after purchasing an additional 954 shares in the last quarter. Finally, Syon Capital LLC acquired a new stake in Amgen in the third quarter worth about $933,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on AMGN. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. The Goldman Sachs Group upped their target price on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada dropped their price objective on Amgen from $332.00 to $328.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Finally, Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.65.

Amgen Stock Down 0.6 %

NASDAQ AMGN traded down $2.00 during trading on Thursday, reaching $307.41. 1,237,294 shares of the company’s stock were exchanged, compared to its average volume of 2,825,938. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company’s fifty day simple moving average is $283.58 and its 200-day simple moving average is $285.13. The firm has a market capitalization of $164.91 billion, a PE ratio of 44.16, a P/E/G ratio of 2.85 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The business 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%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share. Sell-side analysts predict that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders 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 dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by corporate insiders.

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.