Triasima Portfolio Management inc. Purchases 155 Shares of Amgen Inc. (NASDAQ:AMGN)

Triasima Portfolio Management inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 1.4% in the 2nd quarter, Holdings Channel reports. The firm owned 11,208 shares of the medical research company’s stock after buying an additional 155 shares during the period. Triasima Portfolio Management inc.’s holdings in Amgen were worth $3,502,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC increased its position in shares of Amgen by 3.0% in the 2nd quarter. Ballentine Partners LLC now owns 11,660 shares of the medical research company’s stock valued at $3,643,000 after buying an additional 345 shares in the last quarter. Ellis Investment Partners LLC grew its stake in Amgen by 1.0% in the second quarter. Ellis Investment Partners LLC now owns 3,484 shares of the medical research company’s stock valued at $1,089,000 after acquiring an additional 35 shares during the period. MRA Advisory Group bought a new stake in shares of Amgen in the second quarter worth about $288,000. Arlington Trust Co LLC increased its holdings in shares of Amgen by 47.3% in the second quarter. Arlington Trust Co LLC now owns 2,865 shares of the medical research company’s stock worth $895,000 after acquiring an additional 920 shares in the last quarter. Finally, Caprock Group LLC raised its position in shares of Amgen by 69.5% during the second quarter. Caprock Group LLC now owns 15,407 shares of the medical research company’s stock worth $4,814,000 after purchasing an additional 6,319 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Argus boosted their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Stock Performance

Shares of AMGN traded down $3.80 during mid-day trading on Friday, reaching $320.56. The company’s stock had a trading volume of 2,242,451 shares, compared to its average volume of 2,541,291. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The business has a 50-day simple moving average of $326.26 and a two-hundred day simple moving average of $302.25. The stock has a market cap of $171.96 billion, a P/E ratio of 45.79, a PEG ratio of 2.96 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s dividend payout ratio (DPR) is currently 128.57%.

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.