Amgen, Inc. (AMGN) Shares Sold by CI Investments Inc.

CI Investments Inc. reduced its holdings in Amgen, Inc. (NASDAQ:AMGN) by 70.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,898 shares of the medical research company’s stock after selling 89,141 shares during the quarter. CI Investments Inc.’s holdings in Amgen were worth $6,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Toronto Dominion Bank increased its position in shares of Amgen by 11.0% during the 3rd quarter. Toronto Dominion Bank now owns 279,280 shares of the medical research company’s stock valued at $52,066,000 after purchasing an additional 27,726 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Amgen by 16.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 740,764 shares of the medical research company’s stock valued at $138,115,000 after purchasing an additional 104,871 shares during the last quarter. Putnam FL Investment Management Co. bought a new position in shares of Amgen during the 3rd quarter valued at about $447,000. Wesbanco Bank Inc. increased its position in shares of Amgen by 6.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock valued at $18,393,000 after purchasing an additional 6,492 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new position in shares of Amgen during the 3rd quarter valued at about $2,353,000. Institutional investors and hedge funds own 79.53% of the company’s stock.

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In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $174.18, for a total value of $265,624.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 4,575 shares of company stock valued at $838,064 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Shares of NASDAQ:AMGN traded down $3.86 during trading on Friday, hitting $168.14. The stock had a trading volume of 3,747,770 shares, compared to its average volume of 4,476,543. Amgen, Inc. has a 12 month low of $152.16 and a 12 month high of $201.23. The firm has a market capitalization of $121,155.30, a P/E ratio of 13.37, a P/E/G ratio of 2.06 and a beta of 1.36. The company has a debt-to-equity ratio of 1.35, a quick ratio of 5.17 and a current ratio of 5.49.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the company posted $2.89 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. equities analysts forecast that Amgen, Inc. will post 13.25 EPS for the current fiscal year.

Amgen declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the medical research company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 17th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.

Several equities analysts have recently commented on AMGN shares. Oppenheimer set a $205.00 price objective on Amgen and gave the company a “buy” rating in a research report on Tuesday, December 12th. Goldman Sachs lowered Amgen from a “conviction-buy” rating to a “buy” rating in a research report on Friday, December 15th. Citigroup cut Amgen to a “neutral” rating in a report on Monday, December 18th. Mizuho set a $192.00 target price on Amgen and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, Piper Jaffray restated a “buy” rating on shares of Amgen in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company. Amgen currently has a consensus rating of “Hold” and a consensus price target of $190.57.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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