Amgen Inc. $AMGN Stock Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Amgen stake by 5.8% in the third quarter, selling 5,950 shares and retaining 97,332 shares valued at approximately $38.9 million.
• Institutional investors own 76.5% of Amgen, with several firms increasing their positions. Recent insider activity was negative, however, as executives sold 6,222 shares worth about $2.54 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $387.93, below the stock’s reported $432.49 price. Amgen also reported quarterly EPS and revenue above expectations and pays an annualized dividend of $10.08 per share, yielding 2.3%.

TD Waterhouse Canada Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,332 shares of the medical research company's stock after selling 5,950 shares during the period. TD Waterhouse Canada Inc.'s holdings in Amgen were worth $38,932,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MW Advisory LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $1,054,000. Baird Financial Group Inc. raised its holdings in shares of Amgen by 1.6% in the 2nd quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company's stock worth $123,057,000 after buying an additional 5,496 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Amgen by 50.5% in the 1st quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock worth $6,664,000 after buying an additional 6,356 shares in the last quarter. KBC Group NV lifted its position in shares of Amgen by 51.7% during the 2nd quarter. KBC Group NV now owns 382,676 shares of the medical research company's stock worth $138,574,000 after buying an additional 130,497 shares during the period. Finally, Nilsine Partners LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $3,329,000. Institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group boosted their price target on Amgen from $430.00 to $470.00 and gave the company a "buy" rating in a research note on Friday, October 9th. Morgan Stanley dropped their price objective on Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 7th. Piper Sandler lifted their price objective on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Mizuho lifted their price objective on Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Finally, Wells Fargo & Company reduced their target price on shares of Amgen from $435.00 to $430.00 and set an "equal weight" rating on the stock in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $387.93.

Amgen Stock Performance

NASDAQ AMGN opened at $432.49 on Friday. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The company has a 50 day moving average of $415.54 and a 200-day moving average of $374.76. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The firm has a market cap of $233.82 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.17 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. Amgen's revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were given a $2.52 dividend. The ex-dividend date was Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's payout ratio is presently 62.65%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company's stock.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.