Amgen Inc. (NASDAQ:AMGN) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 44.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 440,798 shares of the medical research company’s stock after selling 346,504 shares during the period. Canada Pension Plan Investment Board owned approximately 0.08% of Amgen worth $137,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AMGN. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen during the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new stake in Amgen in the first quarter valued at $28,000. United Community Bank purchased a new stake in Amgen in the fourth quarter valued at $29,000. nVerses Capital LLC acquired a new position in shares of Amgen in the 2nd quarter valued at $31,000. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Amgen during the 2nd quarter worth $33,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America boosted their price target 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 reaffirmed an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price target on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Stock Up 0.4 %

Shares of NASDAQ:AMGN opened at $337.38 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 1.26 and a quick ratio of 0.89. The stock has a market cap of $180.98 billion, a P/E ratio of 48.20, a P/E/G ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a fifty day moving average price of $329.57 and a 200 day moving average price of $305.62.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.67%. Amgen’s dividend payout ratio (DPR) is 128.57%.

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.