Commerce Bank Buys 5,119 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Commerce Bank lifted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,263 shares of the medical research company’s stock after purchasing an additional 5,119 shares during the quarter. Amgen comprises about 0.8% of Commerce Bank’s investment portfolio, making the stock its 28th biggest position. Commerce Bank owned about 0.07% of Amgen worth $122,847,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMGN. Capital International Investors lifted its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Janus Henderson Group PLC grew its position in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $279.95 on Wednesday. The business’s fifty day moving average price is $318.92 and its 200 day moving average price is $318.43. Amgen Inc. has a 12-month low of $260.52 and a 12-month high of $346.85. The company has a market capitalization of $150.48 billion, a PE ratio of 35.85, a P/E/G ratio of 2.53 and a beta of 0.60. 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 (NASDAQ:AMGN – Get Free Report) last announced 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. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.21%. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. UBS Group reduced their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their price objective for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $333.57.

View Our Latest Report on AMGN

Amgen Company 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.

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