TD Asset Management Inc Cuts Holdings in Amgen Inc. $AMGN

Key Points

• TD Asset Management Inc reduced its holdings in Amgen Inc. by 17.4% in the second quarter, owning 406,277 shares valued at approximately $113 million after selling 85,696 shares.
• Amgen's quarterly earnings showed an EPS of $6.02, exceeding estimates by $0.74, with a revenue increase of 9.4% year-over-year.
• The company announced a quarterly dividend of $2.38, resulting in an annualized yield of 3.2%, with a payout ratio of 77.84%.

TD Asset Management Inc lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,277 shares of the medical research company's stock after selling 85,696 shares during the period. TD Asset Management Inc owned approximately 0.08% of Amgen worth $113,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen in the 1st quarter worth approximately $25,000. First Pacific Financial lifted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Amgen by 1,214.3% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of Amgen by 3,433.3% in the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company's stock worth $33,000 after acquiring an additional 103 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its holdings in shares of Amgen by 12,200.0% in the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company's stock worth $38,000 after acquiring an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Up 0.5%

Shares of AMGN opened at $293.85 on Wednesday. The firm's 50-day moving average price is $286.46 and its 200-day moving average price is $287.37. The firm has a market capitalization of $158.20 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.54 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period last year, the business posted $4.97 earnings per share. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Weiss Ratings upgraded shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Piper Sandler upped their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Finally, Citigroup upped their price target on shares of Amgen from $310.00 to $315.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average price target of $309.42.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.69% of the stock is owned by company insiders.

Amgen Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.