Tdam USA Inc. cut its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 6.3% in the second quarter, HoldingsChannel reports. The fund owned 11,663 shares of the medical research company’s stock after selling 780 shares during the period. Tdam USA Inc.’s holdings in Amgen were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. TD Asset Management Inc. boosted its stake in Amgen by 11.5% in the 2nd quarter. TD Asset Management Inc. now owns 390,100 shares of the medical research company’s stock worth $71,888,000 after purchasing an additional 40,310 shares during the period. Pendal Group Ltd bought a new position in Amgen in the 2nd quarter worth approximately $89,000. Westpac Banking Corp boosted its stake in Amgen by 3.4% in the 2nd quarter. Westpac Banking Corp now owns 106,485 shares of the medical research company’s stock worth $19,623,000 after purchasing an additional 3,484 shares during the period. Slow Capital Inc. boosted its stake in Amgen by 0.4% in the 2nd quarter. Slow Capital Inc. now owns 13,799 shares of the medical research company’s stock worth $2,543,000 after purchasing an additional 58 shares during the period. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in Amgen by 3.0% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 13,577 shares of the medical research company’s stock worth $2,502,000 after purchasing an additional 399 shares during the period. Institutional investors own 78.96% of the company’s stock.

NASDAQ:AMGN traded down $4.40 during midday trading on Wednesday, hitting $201.38. 1,310,837 shares of the company traded hands, compared to its average volume of 3,052,886. The firm has a fifty day moving average price of $182.89. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90. The stock has a market cap of $117.69 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 2.30 and a beta of 1.19. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the firm posted $3.83 EPS. Amgen’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Amgen, Inc. will post 14.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be paid a $1.45 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.88%. Amgen’s payout ratio is 40.28%.

In other Amgen news, Director R Sanders Williams sold 425 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total value of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at $2,990,141.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total value of $375,160.00. Following the completion of the sale, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,425 shares of company stock worth $804,312. Insiders own 0.25% of the company’s stock.

A number of research analysts have recently commented on the company. Credit Suisse Group assumed coverage on Amgen in a research report on Monday, May 20th. They set an “outperform” rating and a $208.00 target price for the company. Cowen reiterated a “buy” rating and set a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup upgraded Amgen from a “neutral” rating to a “buy” rating and lowered their target price for the company from $211.00 to $205.00 in a research report on Wednesday, May 22nd. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Amgen in a research report on Sunday. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $211.78.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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