Toronto Dominion Bank Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

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

A number of other large investors have also recently made changes to their positions in AMGN. Grassi Investment Management boosted its holdings in Amgen by 4.5% in the 4th quarter. Grassi Investment Management now owns 4,600 shares of the medical research company’s stock worth $1,199,000 after buying an additional 200 shares during the period. Tallon Kerry Patrick bought a new position in shares of Amgen in the fourth quarter worth about $270,000. Sax Wealth Advisors LLC bought a new position in shares of Amgen in the fourth quarter worth about $252,000. Ameritas Advisory Services LLC grew its position in shares of Amgen by 62.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 10,550 shares of the medical research company’s stock worth $2,750,000 after purchasing an additional 4,038 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in Amgen by 3.5% during the 4th quarter. Grove Bank & Trust now owns 2,750 shares of the medical research company’s stock valued at $717,000 after purchasing an additional 93 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $275.85 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $148.33 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.63 and a beta of 0.51. The firm’s 50-day moving average is $290.27 and its 200 day moving average is $287.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

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

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Royal Bank of Canada dropped their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $310.18.

Insider Transactions at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This trade represents a 40.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

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.