Investment Management Corp of Ontario Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

Investment Management Corp of Ontario lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,714 shares of the medical research company’s stock after selling 733 shares during the quarter. Investment Management Corp of Ontario’s holdings in Amgen were worth $6,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in Amgen in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen in the fourth quarter worth $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ:AMGN opened at $265.86 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock’s 50-day moving average price is $296.08 and its 200-day moving average price is $289.69. The stock has a market capitalization of $142.94 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the business earned $3.96 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a dividend yield of 3.58%. Amgen’s dividend payout ratio (DPR) is presently 86.86%.

Analysts Set New Price Targets

AMGN has been the topic of several research analyst reports. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $310.23.

Insider Activity at Amgen

In other news, EVP Murdo Gordon sold 8,771 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares in the company, valued at $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares of the company’s stock, valued at $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,707 shares of company stock valued at $12,819,342. 0.69% of the stock is owned by corporate 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.