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

Chevy Chase Trust Holdings LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 294,506 shares of the medical research company’s stock after selling 3,920 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Amgen worth $94,893,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMGN. Capital Performance Advisors LLP purchased a new position in Amgen during the third quarter worth approximately $25,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen in the 2nd quarter worth $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co purchased a new stake in shares of Amgen in the third quarter valued at about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $282.87 on Monday. 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 50-day moving average price of $311.37 and a 200 day moving average price of $317.16. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85. The stock has a market capitalization of $152.05 billion, a P/E ratio of 36.22, a P/E/G ratio of 2.52 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $4.96 EPS. Equities research analysts expect that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 annualized dividend and a yield of 3.18%. Amgen’s payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $323.05.

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.