Amgen Inc. (NASDAQ:AMGN) Shares Sold by Birch Capital Management LLC

Birch Capital Management LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,743 shares of the medical research company’s stock after selling 366 shares during the quarter. Amgen accounts for approximately 2.9% of Birch Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Birch Capital Management LLC’s holdings in Amgen were worth $5,667,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter valued at about $25,000. Strategic Financial Concepts LLC acquired a new position in Amgen in the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter worth about $29,000. Hershey Financial Advisers LLC bought a new position in Amgen in the 2nd quarter worth about $30,000. Finally, Matrix Trust Co purchased a new stake in Amgen in the third quarter worth about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.4 %

NASDAQ:AMGN traded up $3.58 on Tuesday, hitting $262.17. 1,373,423 shares of the company’s stock were exchanged, compared to its average volume of 2,824,106. The company has a market cap of $140.93 billion, a P/E ratio of 33.57, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The firm has a 50-day moving average price of $283.46 and a 200-day moving average price of $310.11. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the prior year, the firm earned $4.96 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, analysts expect that Amgen Inc. will post 19.53 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.63%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMGN. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Piper Sandler dropped their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Redburn Partners dropped their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. TD Cowen upped their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $318.83.

Amgen Company 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.