TD Asset Management Inc. Sells 43,508 Shares of Amgen Inc. (NASDAQ:AMGN)

TD Asset Management Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 519,339 shares of the medical research company’s stock after selling 43,508 shares during the quarter. TD Asset Management Inc. owned approximately 0.10% of Amgen worth $135,361,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Modern Wealth Management LLC boosted its stake in shares of Amgen by 171.5% in the 4th quarter. Modern Wealth Management LLC now owns 4,645 shares of the medical research company’s stock valued at $1,211,000 after purchasing an additional 2,934 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Amgen in the fourth quarter valued at approximately $804,000. Dudley Capital Management LLC boosted its stake in Amgen by 15.4% in the fourth quarter. Dudley Capital Management LLC now owns 1,085 shares of the medical research company’s stock valued at $283,000 after acquiring an additional 145 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in Amgen during the 4th quarter worth $585,000. Finally, ICW Investment Advisors LLC raised its position in shares of Amgen by 1.3% during the 4th quarter. ICW Investment Advisors LLC now owns 8,593 shares of the medical research company’s stock valued at $2,240,000 after acquiring an additional 110 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Down 2.4 %

Amgen stock opened at $306.86 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a fifty day simple moving average of $298.92 and a 200 day simple moving average of $298.41. The company has a market cap of $164.85 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Transactions at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the transaction, the executive vice president now directly owns 44,186 shares in the company, valued at $13,025,590.94. The trade was a 16.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated 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 $2,195,228.70. This trade represents 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 worth $20,644,335 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research report on Friday, January 24th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.04.

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.