Chicago Partners Investment Group LLC Purchases 1,019 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Chicago Partners Investment Group LLC increased its stake in Amgen by 21.1%, acquiring an additional 1,019 shares for a total of 5,839 shares worth approximately $1.82 million.
• Amgen's recent earnings report revealed an EPS of $6.02, surpassing estimates by $0.74, with revenues totaling $9.18 billion for the quarter, a 9.4% year-over-year increase.
• The company declared a quarterly dividend of $2.38 per share, representing a 3.3% yield, with a payout ratio of 77.84%.

Chicago Partners Investment Group LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,839 shares of the medical research company's stock after purchasing an additional 1,019 shares during the period. Chicago Partners Investment Group LLC's holdings in Amgen were worth $1,819,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. KPP Advisory Services LLC increased its stake in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after purchasing an additional 2,716 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Amgen in the 1st quarter worth $1,331,000. DLK Investment Management LLC increased its stake in shares of Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares in the last quarter. Mariner LLC increased its stake in shares of Amgen by 2.2% in the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after purchasing an additional 19,250 shares in the last quarter. Finally, Stratos Investment Management LLC increased its stake in shares of Amgen by 24.8% in the 1st quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after purchasing an additional 4,252 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.0%

Shares of NASDAQ:AMGN traded down $0.11 during trading on Tuesday, reaching $284.98. The company's stock had a trading volume of 2,188,702 shares, compared to its average volume of 2,894,184. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17. The firm's 50 day simple moving average is $293.16 and its two-hundred day simple moving average is $292.88. The stock has a market capitalization of $153.42 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 2.49 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.97 EPS. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Citigroup upped their price objective on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group dropped their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada dropped their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Piper Sandler reissued an "overweight" rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $303.76.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

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.