Chevy Chase Trust Holdings LLC Sells 6,084 Shares of Amgen Inc. (NASDAQ:AMGN)

Chevy Chase Trust Holdings LLC decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,422 shares of the medical research company's stock after selling 6,084 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Amgen worth $75,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Pathway Financial Advisers LLC lifted its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC raised its position in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. lifted its stake in Amgen by 561.5% in the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the last quarter. Van ECK Associates Corp boosted its position in Amgen by 263.8% during the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company's stock valued at $270,699,000 after buying an additional 753,147 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Amgen by 40.7% during the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock valued at $609,526,000 after buying an additional 676,598 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.6 %

NASDAQ:AMGN traded up $1.64 during mid-day trading on Tuesday, hitting $292.80. 2,161,695 shares of the company's stock were exchanged, compared to its average volume of 3,156,590. The company has a market cap of $157.39 billion, a PE ratio of 38.78, a P/E/G ratio of 3.01 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.96. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business has a fifty day moving average price of $274.39 and a 200 day moving average price of $301.10.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities analysts predict that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a boost from Amgen's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.25%. Amgen's payout ratio is presently 119.21%.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the sale, the executive vice president now owns 28,987 shares of the company's stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,405 shares of company stock valued at $10,410,596. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Leerink Partners lowered their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Citigroup dropped their price objective on Amgen from $310.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Redburn Partners decreased their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Wolfe Research started coverage on shares of Amgen in a report on Friday, November 15th. They set a "peer perform" rating for the company. Finally, Wells Fargo & Company cut their price target on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $314.09.

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.