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

Public Sector Pension Investment Board lifted its position in Amgen Inc. (NASDAQ:AMGN) by 14.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,547 shares of the medical research company’s stock after acquiring an additional 2,900 shares during the period. Public Sector Pension Investment Board’s holdings in Amgen were worth $7,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth about $25,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the 2nd quarter worth about $30,000. nVerses Capital LLC acquired a new stake in Amgen during the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC acquired a new stake in Amgen during the 2nd quarter worth about $33,000. Finally, Matrix Trust Co acquired a new stake in Amgen during the 3rd quarter worth about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN opened at $282.87 on Friday. Amgen Inc. has a 1-year low of $257.80 and a 1-year high of $346.85. The stock has a market cap of $152.05 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.50 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a fifty day moving average price of $311.37 and a 200 day moving average price of $317.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 3.18%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMGN. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and increased their price target for the stock from $320.00 to $333.00 in a research report on Monday, October 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, TD Cowen increased their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $323.05.

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.