Comerica Bank Sells 9,980 Shares of Amgen Inc. (NASDAQ:AMGN)

Comerica Bank lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 187,014 shares of the medical research company's stock after selling 9,980 shares during the quarter. Comerica Bank's holdings in Amgen were worth $48,743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Vanguard Group Inc. grew its position in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after buying an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the period. Capital International Investors increased its stake in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors raised its holdings in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup reissued a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler Companies restated an "overweight" rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Cantor Fitzgerald started coverage on Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective on the stock. StockNews.com raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $310.22.

Insider Buying and Selling at Amgen

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction that occurred on 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 sale, the senior vice president now owns 7,210 shares of the company's stock, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,341 shares of company stock valued at $20,644,335 in the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Amgen stock traded down $2.56 during midday trading on Friday, reaching $281.22. 4,537,023 shares of the company's stock were exchanged, compared to its average volume of 2,795,101. The stock's 50-day simple moving average is $299.66 and its 200 day simple moving average is $291.49. The firm has a market cap of $151.20 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the company posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.39%. Amgen's dividend payout ratio (DPR) is presently 126.09%.

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.