Ontario Teachers Pension Plan Board Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Ontario Teachers Pension Plan Board lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 71.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,786 shares of the medical research company's stock after selling 7,088 shares during the period. Ontario Teachers Pension Plan Board's holdings in Amgen were worth $898,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of Amgen by 3.2% during the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company's stock valued at $19,581,000 after buying an additional 1,872 shares during the period. Howe & Rusling Inc. grew its stake in Amgen by 3.2% in the third quarter. Howe & Rusling Inc. now owns 4,858 shares of the medical research company's stock valued at $1,565,000 after purchasing an additional 151 shares during the last quarter. Hilton Capital Management LLC grew its stake in Amgen by 2.2% in the third quarter. Hilton Capital Management LLC now owns 21,527 shares of the medical research company's stock valued at $6,936,000 after purchasing an additional 466 shares during the last quarter. Commerce Bank grew its stake in Amgen by 1.4% in the third quarter. Commerce Bank now owns 381,263 shares of the medical research company's stock valued at $122,847,000 after purchasing an additional 5,119 shares during the last quarter. Finally, MWA Asset Management grew its stake in Amgen by 1.6% in the third quarter. MWA Asset Management now owns 2,469 shares of the medical research company's stock valued at $795,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the topic of several analyst reports. Wells Fargo & Company lowered Amgen from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They issued a "peer perform" rating on the stock. StockNews.com upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their price target on Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Moderate Buy" and an average price target of $333.57.

Amgen Trading Up 0.7 %

Shares of NASDAQ:AMGN opened at $289.77 on Friday. The company has a market capitalization of $155.76 billion, a PE ratio of 37.10, a PEG ratio of 2.50 and a beta of 0.60. Amgen Inc. has a 12-month low of $260.68 and a 12-month high of $346.85. The business has a 50 day moving average of $317.28 and a two-hundred day moving average of $318.02. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts' consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business's revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, November 18th. Amgen's dividend payout ratio (DPR) is presently 115.24%.

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.