Ontario Teachers Pension Plan Board Purchases 6,837 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Amgen Inc. by 194.3% in the 1st quarter, holding 10,355 shares valued at approximately $3.23 million.
• Amgen reported earnings of $6.02 per share for the quarter, exceeding analysts' expectations, while quarterly revenue rose 9.4% year-over-year, totaling $9.18 billion.
• The company declared a quarterly dividend of $2.38 per share, reflecting a dividend yield of 3.3%, to be paid on September 12th.

Ontario Teachers Pension Plan Board grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 194.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,355 shares of the medical research company's stock after acquiring an additional 6,837 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Amgen were worth $3,226,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Amgen by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock worth $16,471,790,000 after acquiring an additional 148,658 shares during the period. Capital International Investors lifted its position in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the period. Capital World Investors lifted its position in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Northern Trust Corp lifted its position in shares of Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after buying an additional 875,254 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Amgen by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock worth $1,336,647,000 after buying an additional 685,785 shares during the period. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on AMGN. Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Morgan Stanley raised their price target on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company's stock.

Amgen Trading Down 0.5%

Shares of Amgen stock traded down $1.42 during trading on Monday, reaching $286.81. 531,153 shares of the company were exchanged, compared to its average volume of 2,890,029. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The business has a 50-day moving average price of $293.23 and a 200-day moving average price of $292.81. The firm has a market capitalization of $154.41 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.49 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's payout ratio is currently 77.84%.

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.