Public Sector Pension Investment Board Buys 2,900 Shares of Amgen Inc. (NASDAQ:AMGN)

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

Other large investors also recently added to or reduced their stakes in the company. Keynote Financial Services LLC grew its stake in shares of Amgen by 0.6% during the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC grew its stake in shares of Amgen by 0.3% during the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the last quarter. Hofer & Associates. Inc grew its stake in shares of Amgen by 0.5% during the second quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after buying an additional 32 shares during the last quarter. Cadinha & Co. LLC grew its stake in shares of Amgen by 0.6% during the third quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after buying an additional 32 shares during the last quarter. Finally, Lansing Street Advisors grew its stake in shares of Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after buying an additional 32 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $282.87 on Friday. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85. The stock has a fifty day moving average price of $311.37 and a 200-day moving average price of $317.14. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm has a market cap of $152.05 billion, a PE ratio of 36.22, a P/E/G ratio of 2.50 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the prior year, the business posted $4.96 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts predict that Amgen Inc. will post 19.52 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company 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 dividend yield of 3.18%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Wolfe Research began coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday, November 12th. UBS Group lowered their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada lowered their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently 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.