Amgen Inc. (NASDAQ:AMGN) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 288,422 shares of the medical research company’s stock after selling 6,084 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Amgen were worth $75,174,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its stake in shares of Amgen by 1.2% during the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Amgen by 0.9% during the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after purchasing an additional 251,876 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Bank of America upped their price objective on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Truist Financial dropped their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Leerink Partners dropped their price objective on shares of Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $314.09.

Insiders Place Their Bets

In other Amgen news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now owns 44,186 shares in the company, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,405 shares of company stock worth $10,410,596 in the last ninety days. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of AMGN stock opened at $296.97 on Friday. The firm’s 50 day moving average price is $273.29 and its 200-day moving average price is $302.18. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.96 and a current ratio of 1.26. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market cap of $159.63 billion, a P/E ratio of 39.33, a P/E/G ratio of 3.01 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, equities research analysts predict that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.21%. Amgen’s dividend payout ratio is 119.21%.

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.