Chase Investment Counsel Corp Acquires Shares of 1,341 Amgen Inc. (NASDAQ:AMGN)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. OFI Invest Asset Management purchased a new stake in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the third quarter worth about $26,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the fourth quarter worth about $29,000. Providence Capital Advisors LLC purchased a new stake in shares of Amgen during the third quarter worth about $30,000. Finally, Planned Solutions Inc. purchased a new stake in Amgen during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research note on Thursday, February 1st. The Goldman Sachs Group upped their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Raymond James initiated coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Finally, UBS Group dropped their price objective on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $297.40.

Amgen Stock Performance

Shares of AMGN stock opened at $276.38 on Tuesday. The firm’s 50 day moving average price is $274.96 and its 200-day moving average price is $281.45. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The firm has a market cap of $148.24 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $8.13 billion. During the same period in the prior year, the business posted $4.09 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

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

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.