Amgen Inc. (NASDAQ:AMGN) Position Increased by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,208 shares of the medical research company’s stock after buying an additional 155 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Amgen were worth $3,502,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Keynote Financial Services LLC grew its position in Amgen by 0.6% in the 2nd quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock worth $1,530,000 after purchasing an additional 30 shares during the last quarter. RFP Financial Group LLC grew its position in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after buying an additional 32 shares in the last quarter. Hofer & Associates. Inc increased its stake in 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 acquiring an additional 32 shares during the period. Blossom Wealth Management increased its stake in Amgen by 3.3% during the second quarter. Blossom Wealth Management now owns 1,023 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 33 shares during the period. Finally, Legacy Capital Group California Inc. raised its holdings in Amgen by 1.1% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,057 shares of the medical research company’s stock valued at $955,000 after acquiring an additional 33 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMGN shares. Bank of America boosted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (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 and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.28.

Amgen Trading Down 1.2 %

NASDAQ:AMGN traded down $3.80 during trading hours on Friday, hitting $320.56. 2,242,451 shares of the stock were exchanged, compared to its average volume of 2,541,291. The company has a market capitalization of $171.96 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 2.96 and a beta of 0.61. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company’s 50 day moving average is $326.26 and its two-hundred day moving average is $302.25. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85.

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

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is presently 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.