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

Toronto Dominion Bank lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 39.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 225,817 shares of the medical research company’s stock after selling 148,656 shares during the quarter. Toronto Dominion Bank’s holdings in Amgen were worth $64,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. BIP Wealth LLC boosted its position in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after buying an additional 32 shares during the last quarter. RFP Financial Group LLC raised its stake in shares of Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares during the period. Opal Wealth Advisors LLC raised its stake in Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the last quarter. Marino Stram & Associates LLC raised its stake in Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the last quarter. Finally, NTV Asset Management LLC raised its stake in Amgen by 0.3% in the 1st quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock valued at $3,116,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. UBS Group upped their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Argus upped their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. BMO Capital Markets increased their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, TD Cowen lowered their price target on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Amgen Stock Up 0.2 %

AMGN stock traded up $0.55 during mid-day trading on Friday, reaching $334.85. The company had a trading volume of 1,515,216 shares, compared to its average volume of 2,661,164. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a market capitalization of $179.62 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58. The firm has a fifty day simple moving average of $313.96 and a 200 day simple moving average of $297.36. Amgen Inc. has a fifty-two week low of $228.21 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 EPS. Analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

About Amgen

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.