Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,896 shares of the medical research company’s stock after selling 719 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Amgen were worth $427,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AMGN. EdgeRock Capital LLC acquired a new stake in Amgen in the third quarter worth $25,000. Capital Wealth Alliance LLC acquired a new stake in Amgen in the second quarter worth $26,000. Coston McIsaac & Partners acquired a new stake in Amgen in the second quarter worth $27,000. Heritage Wealth Management LLC acquired a new stake in Amgen in the second quarter worth $28,000. Finally, Lumature Wealth Partners LLC grew its holdings in Amgen by 51.1% in the first quarter. Lumature Wealth Partners LLC now owns 142 shares of the medical research company’s stock worth $34,000 after purchasing an additional 48 shares during the period. 75.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. SVB Leerink reduced their price target on shares of Amgen from $282.00 to $267.00 and set a “market perform” rating for the company in a report on Thursday, February 2nd. Credit Suisse Group dropped their price objective on shares of Amgen from $240.00 to $220.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 1st. Cowen dropped their price objective on shares of Amgen from $307.00 to $289.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Truist Financial dropped their price objective on shares of Amgen from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, February 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Amgen from $285.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 1st. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $252.06.
Amgen Stock Performance
Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The medical research company reported $4.09 EPS for the quarter, topping the consensus estimate of $4.04 by $0.05. The business had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.77 billion. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.36 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 17.72 earnings per share for the current year.
Amgen Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 8th. Shareholders of record on Wednesday, February 15th will be given a $2.13 dividend. This is a positive change from Amgen’s previous quarterly dividend of $1.94. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $8.52 annualized dividend and a yield of 3.61%. Amgen’s payout ratio is currently 70.36%.
Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.
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