Public Sector Pension Investment Board Acquires 5,732 Shares of Amgen Inc. (NASDAQ:AMGN)

Public Sector Pension Investment Board lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 73,532 shares of the medical research company’s stock after purchasing an additional 5,732 shares during the period. Public Sector Pension Investment Board’s holdings in Amgen were worth $22,909,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. GAMMA Investing LLC lifted its stake in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors lifted its stake in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Nuveen LLC bought a new position in Amgen during the first quarter worth about $688,868,000. Finally, Northern Trust Corp boosted its holdings in Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after buying an additional 875,254 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 1.1%

Shares of Amgen stock opened at $285.09 on Tuesday. The business’s 50 day simple moving average is $293.16 and its 200 day simple moving average is $292.88. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The firm has a market cap of $153.48 billion, a PE ratio of 23.31, a P/E/G ratio of 2.49 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm earned $4.97 EPS. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMGN shares. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler reissued an “overweight” rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by corporate insiders.

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.