Amgen Inc. (NASDAQ:AMGN) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 74.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,647 shares of the medical research company’s stock after acquiring an additional 8,795 shares during the quarter. Public Sector Pension Investment Board’s holdings in Amgen were worth $6,451,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMGN. United Community Bank acquired a new position in shares of Amgen in the 4th quarter valued at $29,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the first quarter valued at about $28,000. nVerses Capital LLC purchased a new position in shares of Amgen in the second quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth about $33,000. Finally, FSA Wealth Management LLC boosted its position in Amgen by 182.0% in the first quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $330.92 on Wednesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. Amgen Inc. has a 1 year low of $249.70 and a 1 year high of $346.85. The firm has a market capitalization of $177.52 billion, a PE ratio of 47.27, a P/E/G ratio of 2.93 and a beta of 0.61. The business’s 50 day moving average price is $329.63 and its 200-day moving average price is $306.87.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $5.00 EPS. As a group, equities research analysts expect that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 price target (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their target price on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $327.28.

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.