Charles Schwab Investment Management Inc. Sells 500,785 Shares of Amgen Inc. (NASDAQ:AMGN)

Charles Schwab Investment Management Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,393,110 shares of the medical research company’s stock after selling 500,785 shares during the period. Amgen accounts for about 0.8% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 22nd biggest position. Charles Schwab Investment Management Inc.’s holdings in Amgen were worth $2,993,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new position in Amgen during the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen in the 4th quarter valued at $29,000. OFI Invest Asset Management acquired a new stake in shares of Amgen in the 3rd quarter valued at $26,000. Planned Solutions Inc. acquired a new stake in shares of Amgen in the 4th quarter valued at $30,000. Finally, Providence Capital Advisors LLC acquired a new stake in shares of Amgen in the 3rd quarter valued at $30,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN traded up $3.87 on Wednesday, hitting $304.17. 1,126,768 shares of the stock traded hands, compared to its average volume of 2,889,406. The firm has a market capitalization of $163.15 billion, a price-to-earnings ratio of 43.44, a PEG ratio of 3.00 and a beta of 0.60. The business’s fifty day moving average is $275.65 and its two-hundred day moving average is $281.74. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.96%. Amgen’s dividend payout ratio is currently 128.57%.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. UBS Group raised their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Raymond James began coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $305.05.

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.