Chemung Canal Trust Co. Sells 640 Shares of Amgen Inc. (NASDAQ:AMGN)

Chemung Canal Trust Co. lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 9.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,161 shares of the medical research company’s stock after selling 640 shares during the period. Chemung Canal Trust Co.’s holdings in Amgen were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Amgen by 1.2% in the third quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after buying an additional 345,537 shares during the last quarter. Geode Capital Management LLC increased its holdings in Amgen by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock worth $3,893,771,000 after acquiring an additional 103,851 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after acquiring an additional 251,876 shares during the period. Janus Henderson Group PLC lifted its holdings in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMGN shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft reduced their price target on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Royal Bank of Canada reissued an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Finally, Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $314.65.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $275.42 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The company has a 50-day moving average price of $271.55 and a 200-day moving average price of $306.24. The company has a market cap of $148.05 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts anticipate that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 121.90%.

About Amgen

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.