Amgen Inc. (NASDAQ:AMGN) Stake Lowered by Chicago Capital LLC

Chicago Capital LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 21.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,364 shares of the medical research company’s stock after selling 3,987 shares during the period. Chicago Capital LLC’s holdings in Amgen were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AMGN. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in Amgen in the second quarter worth approximately $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth $33,000. Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter valued at $36,000. Finally, FSA Wealth Management LLC lifted its stake in shares of Amgen by 182.0% in the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.1 %

Shares of AMGN opened at $321.66 on Friday. The business’s fifty day moving average price is $326.07 and its two-hundred day moving average price is $312.15. The firm has a market capitalization of $172.55 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted 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 during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. Amgen’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.00 EPS. On average, analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.80%. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Morgan Stanley lowered their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research report on Wednesday, September 25th. Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their price objective for the stock from $320.00 to $333.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $329.48.

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.