Chesley Taft & Associates LLC Acquires 174 Shares of Amgen Inc. (NASDAQ:AMGN)

Chesley Taft & Associates LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,922 shares of the medical research company’s stock after purchasing an additional 174 shares during the period. Chesley Taft & Associates LLC’s holdings in Amgen were worth $6,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Grassi Investment Management acquired a new position in shares of Amgen during the 1st quarter worth about $2,283,000. Public Employees Retirement System of Ohio increased its stake in Amgen by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock valued at $81,161,000 after purchasing an additional 4,376 shares in the last quarter. Meyer Handelman Co. increased its stake in Amgen by 7.2% in the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after purchasing an additional 8,700 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Amgen by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 4,543 shares of the medical research company’s stock worth $1,388,000 after purchasing an additional 57 shares during the period. Finally, Novak & Powell Financial Services Inc. bought a new position in shares of Amgen during the fourth quarter worth $803,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMGN. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. TD Cowen raised their target price on shares of Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $326.30.

Amgen Price Performance

NASDAQ:AMGN opened at $317.45 on Tuesday. The stock has a market capitalization of $170.29 billion, a PE ratio of 45.35, a P/E/G ratio of 2.98 and a beta of 0.61. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a fifty day simple moving average of $327.28 and a 200 day simple moving average of $309.48. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned $5.00 EPS. On average, research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.84%. Amgen’s dividend payout ratio is 128.57%.

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.