Manchester Capital Management LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Manchester Capital Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 32.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,590 shares of the medical research company’s stock after selling 1,726 shares during the period. Manchester Capital Management LLC’s holdings in Amgen were worth $912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Morgan Stanley raised its position in shares of Amgen by 7.4% during the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock worth $1,472,598,000 after purchasing an additional 501,592 shares during the period. AXA raised its position in shares of Amgen by 26.0% during the 1st quarter. AXA now owns 591,112 shares of the medical research company’s stock worth $119,837,000 after purchasing an additional 122,130 shares during the period. APG Asset Management N.V. raised its position in shares of Amgen by 67.7% during the 1st quarter. APG Asset Management N.V. now owns 732,305 shares of the medical research company’s stock worth $148,460,000 after purchasing an additional 295,600 shares during the period. Birch Capital Management LLC raised its position in shares of Amgen by 0.5% during the 2nd quarter. Birch Capital Management LLC now owns 18,360 shares of the medical research company’s stock worth $4,330,000 after purchasing an additional 83 shares during the period. Finally, Ellenbecker Investment Group acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $236,000. 75.23% of the stock is owned by hedge funds and other institutional investors.

AMGN opened at $216.38 on Thursday. The stock has a fifty day moving average of $241.22 and a 200-day moving average of $239.21. The firm has a market capitalization of $126.73 billion, a P/E ratio of 17.68, a PEG ratio of 2.01 and a beta of 0.81. Amgen Inc. has a 12-month low of $177.05 and a 12-month high of $264.97. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 3.20.

Amgen (NASDAQ:AMGN) last released its earnings results on Saturday, October 31st. The medical research company reported $4.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.74 by $0.63. Amgen had a return on equity of 91.98% and a net margin of 30.04%. On average, analysts expect that Amgen Inc. will post 15.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be issued a $1.60 dividend. The ex-dividend date is Friday, November 13th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.96%. Amgen’s payout ratio is currently 43.18%.

In related news, Director R Sanders Williams sold 250 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $242.95, for a total transaction of $60,737.50. Following the completion of the sale, the director now directly owns 5,159 shares in the company, valued at $1,253,379.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $241.02, for a total value of $241,020.00. 0.36% of the stock is owned by corporate insiders.

A number of analysts have recently weighed in on AMGN shares. Raymond James upgraded Amgen from a “market perform” rating to an “outperform” rating and set a $255.00 price target on the stock in a research report on Monday. Sanford C. Bernstein lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Friday, October 9th. Piper Sandler increased their price objective on Amgen from $255.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Wells Fargo & Company increased their price objective on Amgen from $237.00 to $247.00 and gave the stock an “in-line” rating in a report on Wednesday, July 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $223.00 price target on shares of Amgen in a research note on Thursday, October 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $254.12.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

Further Reading: What is Liquidity?

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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