Chesley Taft & Associates LLC Purchases 383 Shares of Amgen Inc. (NASDAQ:AMGN)

Chesley Taft & Associates LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,305 shares of the medical research company’s stock after acquiring an additional 383 shares during the period. Chesley Taft & Associates LLC’s holdings in Amgen were worth $5,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Amgen in the second quarter worth $661,000. Pacer Advisors Inc. raised its stake in shares of Amgen by 8.9% in the second quarter. Pacer Advisors Inc. now owns 74,039 shares of the medical research company’s stock valued at $23,133,000 after acquiring an additional 6,048 shares during the period. Certified Advisory Corp lifted its holdings in shares of Amgen by 16.0% in the 2nd quarter. Certified Advisory Corp now owns 1,460 shares of the medical research company’s stock worth $456,000 after acquiring an additional 201 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of Amgen by 5.8% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 1,357 shares of the medical research company’s stock worth $424,000 after purchasing an additional 74 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Amgen by 74.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 20,647 shares of the medical research company’s stock valued at $6,451,000 after purchasing an additional 8,795 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $272.11 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business’s 50 day moving average price is $272.95 and its 200 day moving average price is $306.92. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The firm has a market cap 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.

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

Amgen Increases Dividend

The business 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 dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Piper Sandler lowered their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Sanford C. Bernstein began coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Redburn Partners lowered their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $314.91.

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.