Birch Capital Management LLC Has $7.12 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Birch Capital Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the third quarter, HoldingsChannel.com reports. The firm owned 22,109 shares of the medical research company’s stock after acquiring an additional 968 shares during the quarter. Amgen makes up approximately 3.5% of Birch Capital Management LLC’s holdings, making the stock its 7th largest holding. Birch Capital Management LLC’s holdings in Amgen were worth $7,124,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the period. Capital Wealth Planning LLC lifted its position in Amgen by 28,684.1% during the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its holdings in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.2 %

AMGN stock traded up $0.68 during trading on Tuesday, hitting $325.30. 525,219 shares of the company’s stock were exchanged, compared to its average volume of 2,452,744. The stock has a market capitalization of $174.50 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The business has a 50-day moving average price of $326.05 and a two-hundred day moving average price of $311.20.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter in the prior year, the business earned $5.00 earnings per share. Amgen’s revenue was up 20.1% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a report on Thursday, September 26th. Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a research note on Monday. Morgan Stanley lowered their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a report on Wednesday, September 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $326.95.

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.