Amgen Inc. (NASDAQ:AMGN) Position Lifted by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 22.3% in the third quarter, HoldingsChannel reports. The fund owned 27,447 shares of the medical research company’s stock after purchasing an additional 5,010 shares during the quarter. Investment Management Corp of Ontario’s holdings in Amgen were worth $8,844,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter valued at about $25,000. Hershey Financial Advisers LLC acquired a new position in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co acquired a new position in Amgen during the 3rd quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Down 1.7 %

Shares of AMGN stock opened at $278.10 on Tuesday. The company has a market capitalization of $149.49 billion, a price-to-earnings ratio of 35.61, a P/E/G ratio of 3.13 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The firm has a fifty day moving average of $311.37 and a 200-day moving average of $317.16.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.24%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Amgen in a research note on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $323.05.

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.