Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,305 shares of the medical research company’s stock after buying an additional 383 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Amgen were worth $5,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMGN. Pathway Financial Advisers LLC grew its stake in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the period. International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after purchasing an additional 1,306,982 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after acquiring an additional 676,598 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $272.11 on Tuesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business’s 50-day moving average is $272.95 and its two-hundred day moving average is $306.92.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same quarter in the previous year, the firm earned $4.96 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMGN shares. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America reaffirmed an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Piper Sandler cut their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Finally, Barclays boosted their target price 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $314.91.

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.