Chesapeake Wealth Management Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Chesapeake Wealth Management trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,630 shares of the medical research company’s stock after selling 69 shares during the quarter. Chesapeake Wealth Management’s holdings in Amgen were worth $946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after acquiring an additional 345,537 shares during the period. Geode Capital Management LLC grew its holdings in shares of Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Amgen by 2.4% in 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 buying an additional 251,876 shares during the last quarter. Janus Henderson Group PLC lifted its position in Amgen by 11.7% in 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 buying an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position 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 during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Barclays lifted their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird reiterated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. Wells Fargo & Company dropped their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Redburn Partners dropped their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.91.

Amgen Stock Up 1.0 %

AMGN opened at $272.11 on Tuesday. 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 has a 50 day simple moving average of $273.95 and a 200-day simple moving average of $307.18. The stock has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

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

Amgen Increases Dividend

The company 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. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is currently 121.90%.

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.