Amgen Inc. (NASDAQ:AMGN) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 39.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,817 shares of the medical research company’s stock after selling 148,656 shares during the period. Toronto Dominion Bank’s holdings in Amgen were worth $64,204,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Horizon Financial Services LLC acquired a new stake in Amgen during the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen during the 4th quarter worth $29,000. United Community Bank acquired a new stake in Amgen during the 4th quarter worth $29,000. Planned Solutions Inc. acquired a new stake in Amgen during the 4th quarter worth $30,000. Finally, Delos Wealth Advisors LLC boosted its stake in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded up $0.55 during trading on Friday, reaching $334.85. The company’s stock had a trading volume of 1,515,216 shares, compared to its average volume of 2,661,164. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm 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. Amgen Inc. has a 12 month low of $228.21 and a 12 month high of $346.85. The firm has a 50 day moving average price of $313.96 and a 200 day moving average price of $297.36.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.98 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 19.5 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMGN. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. TD Cowen reduced their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley reduced their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, UBS Group raised their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $312.63.

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.