Investment Management Corp of Ontario Has $8.84 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Investment Management Corp of Ontario lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,447 shares of the medical research company’s stock after acquiring an additional 5,010 shares during the period. Investment Management Corp of Ontario’s holdings in Amgen were worth $8,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Amgen in the 3rd quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in Amgen in the 2nd quarter valued at $26,000. Hershey Financial Advisers LLC purchased a new position in shares of Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC bought a new position in Amgen in the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen during the second quarter valued at about $33,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Leerink Partners dropped their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price of $323.05.

Amgen Trading Down 1.7 %

NASDAQ AMGN opened at $278.10 on Tuesday. The stock’s 50-day simple moving average is $311.37 and its two-hundred day simple moving average is $317.16. Amgen Inc. has a twelve month low of $257.80 and a twelve month high of $346.85. The company has a market capitalization of $149.49 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.13 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the business earned $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 3.24%. Amgen’s payout ratio is currently 115.24%.

Amgen Company Profile

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.