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.
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).
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