Ontario Teachers Pension Plan Board Sells 7,088 Shares of Amgen Inc. (NASDAQ:AMGN)

Ontario Teachers Pension Plan Board lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 71.8% in the third quarter, HoldingsChannel reports. The fund owned 2,786 shares of the medical research company’s stock after selling 7,088 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Amgen were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its position in shares of Amgen by 2.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,931 shares of the medical research company’s stock worth $14,241,000 after purchasing an additional 1,311 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Amgen by 5.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,431 shares of the medical research company’s stock valued at $1,544,000 after acquiring an additional 271 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Amgen by 4.4% during the 1st quarter. Lazard Asset Management LLC now owns 31,841 shares of the medical research company’s stock valued at $9,051,000 after acquiring an additional 1,353 shares during the period. Steel Grove Capital Advisors LLC grew its holdings in shares of Amgen by 30.5% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 1,283 shares of the medical research company’s stock worth $365,000 after purchasing an additional 300 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in shares of Amgen by 25.6% in the first quarter. Kestra Advisory Services LLC now owns 80,582 shares of the medical research company’s stock worth $22,911,000 after purchasing an additional 16,407 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMGN shares. Truist Financial downgraded 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 note on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a research note on Tuesday, November 12th. Finally, Bank of America raised their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Trading Up 0.7 %

Shares of AMGN stock opened at $289.77 on Friday. Amgen Inc. has a 1-year low of $260.68 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $155.76 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.50 and a beta of 0.60. The stock has a 50-day moving average of $317.28 and a 200-day moving average of $318.02.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is 115.24%.

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.