TD Asset Management Inc Sells 27,366 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• TD Asset Management Inc has reduced its stake in Amgen Inc. by 5.3%, now holding approximately 491,973 shares valued at $153.27 million.
• The majority of Amgen's stock, about 76.50%, is held by institutional investors and hedge funds, with various firms such as First Pacific Financial increasing their positions significantly.
• Amgen's recent earnings report showed an EPS of $4.90, surpassing expectations and highlighting a year-over-year revenue increase of 9.4%.

TD Asset Management Inc cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,973 shares of the medical research company's stock after selling 27,366 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Amgen worth $153,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth about $26,000. First Pacific Financial lifted its stake 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 valued at $28,000 after purchasing an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC lifted its stake in shares of Amgen by 46.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after purchasing an additional 45 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amgen

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 completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

AMGN stock traded down $0.73 during mid-day trading on Wednesday, hitting $302.83. 450,192 shares of the stock were exchanged, compared to its average volume of 2,909,971. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business has a fifty day moving average price of $290.47 and a 200 day moving average price of $291.42. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $340.89. The stock has a market capitalization of $162.83 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AMGN shares. Bank of America boosted their price objective on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Finally, Citigroup boosted their price objective on Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus price target of $307.27.

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.