Amgen Inc. (NASDAQ:AMGN) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,506 shares of the medical research company’s stock after selling 13,143 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Amgen were worth $28,840,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new position in Amgen in the third quarter valued at $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter valued at about $26,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen during the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the 2nd quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

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

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) 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 analyst estimates of $8.50 billion. During the same period in the previous year, the business posted $4.96 EPS. Amgen’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 19.52 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced 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. This represents a $9.00 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is currently 115.24%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMGN shares. TD Cowen increased their price target 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. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday. Truist Financial cut Amgen from a “buy” rating to a “hold” rating and lifted their target price for the company from $320.00 to $333.00 in a report on Monday, October 14th. Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target for the company. Finally, Royal Bank of Canada reduced their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $323.05.

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.