BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 38,537 Shares of Amgen Inc. (NASDAQ:AMGN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 60.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,649 shares of the medical research company’s stock after purchasing an additional 38,537 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Amgen were worth $32,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $26,000. Horizon Financial Services LLC bought a new position in Amgen during the first quarter worth $28,000. United Community Bank acquired a new stake in Amgen in the fourth quarter worth $29,000. nVerses Capital LLC acquired a new stake in Amgen in the second quarter worth $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in Amgen in the second quarter valued at $33,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.5 %

NASDAQ AMGN opened at $335.61 on Tuesday. The business’s fifty day moving average is $329.68 and its 200-day moving average is $306.47. 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 capitalization of $180.03 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.93 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85.

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

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMGN. Argus increased their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a report on Wednesday, August 7th. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price target (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $327.28.

Amgen 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.