Toronto Dominion Bank Reduces Stake in Amgen Inc. (NASDAQ:AMGN)

Toronto Dominion Bank cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,934 shares of the medical research company’s stock after selling 50,199 shares during the period. Toronto Dominion Bank’s holdings in Amgen were worth $21,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Beck Mack & Oliver LLC lifted its position in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares during the period. Blossom Wealth Management lifted its holdings in Amgen by 3.5% in the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the period. Zullo Investment Group Inc. lifted its holdings in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the period. Trillium Asset Management LLC boosted its position in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 37 shares in the last quarter. Finally, Evermay Wealth Management LLC grew its holdings in shares of Amgen by 1.5% during the 4th quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after acquiring an additional 38 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, EVP David M. Reese sold 8,711 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at $18,222,743.34. This represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Citigroup reissued a “neutral” rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $310.18.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $275.85 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm’s 50-day moving average price is $290.27 and its 200-day moving average price is $287.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $148.33 billion, a PE ratio of 36.54, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its 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. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.96 earnings per share. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is 86.86%.

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.