Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Chase Investment Counsel Corp

Chase Investment Counsel Corp lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,549 shares of the medical research company’s stock after purchasing an additional 121 shares during the quarter. Chase Investment Counsel Corp’s holdings in Amgen were worth $483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Strategic Financial Concepts LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at $26,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the 1st quarter valued at about $28,000. Hershey Financial Advisers LLC acquired a new position in shares of Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. 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. Oppenheimer restated an “outperform” rating and set a $380.00 price target on shares of Amgen in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average target price of $325.55.

Amgen Trading Up 1.1 %

AMGN opened at $322.67 on Monday. The stock has a market capitalization of $173.09 billion, a PE ratio of 46.10, a P/E/G ratio of 2.98 and a beta of 0.61. Amgen Inc. has a one year low of $249.70 and a one year 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. The business’s 50 day moving average price is $328.77 and its 200 day moving average price is $307.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the company posted $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

About Amgen

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.