Chase Investment Counsel Corp Acquires New Shares in Amgen Inc. (NASDAQ:AMGN)

Chase Investment Counsel Corp acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,341 shares of the medical research company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FAS Wealth Partners Inc. purchased a new stake in Amgen during the 3rd quarter valued at $576,000. TriaGen Wealth Management LLC purchased a new stake in Amgen during the 3rd quarter valued at $214,000. Sweet Financial Partners LLC raised its stake in Amgen by 1.8% during the 3rd quarter. Sweet Financial Partners LLC now owns 13,135 shares of the medical research company’s stock valued at $3,530,000 after buying an additional 235 shares during the last quarter. First Bancorp Inc ME purchased a new stake in Amgen during the 3rd quarter valued at $204,000. Finally, Toews Corp ADV purchased a new stake in Amgen during the 3rd quarter valued at $779,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 2.4 %

AMGN opened at $276.38 on Tuesday. The firm has a 50-day simple moving average of $274.96 and a two-hundred day simple moving average of $281.45. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a market capitalization of $148.24 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the firm earned $4.09 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AMGN shares. Oppenheimer reiterated an “outperform” rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Leerink Partnrs lowered Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. StockNews.com lowered Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Finally, Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

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.