Manchester Capital Management LLC cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,419 shares of the medical research company’s stock after selling 300 shares during the quarter. Manchester Capital Management LLC’s holdings in Amgen were worth $999,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Financial Planning LLC acquired a new position in Amgen in the 4th quarter worth $27,000. Arbor Wealth Management LLC lifted its position in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares in the last quarter. C J Advisory Inc bought a new stake in Amgen during the 1st quarter worth about $40,000. Clarfeld Financial Advisors LLC bought a new stake in Amgen during the 4th quarter worth about $41,000. Finally, Ashburton Jersey Ltd bought a new stake in Amgen during the 2nd quarter worth about $42,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:AMGN traded down $2.69 on Tuesday, reaching $203.31. 1,471,172 shares of the company’s stock were exchanged, compared to its average volume of 3,882,518. The company has a fifty day moving average of $185.13 and a 200-day moving average of $183.15. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $211.90. The company has a market capitalization of $122.35 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.39 and a beta of 1.19. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the business posted $3.83 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Amgen, Inc. will post 14.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.45 per share. The ex-dividend date is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.85%. Amgen’s payout ratio is presently 40.28%.

A number of equities research analysts have recently issued reports on AMGN shares. Royal Bank of Canada reaffirmed a “hold” rating on shares of Amgen in a report on Sunday, August 11th. BidaskClub raised shares of Amgen from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. reissued a “hold” rating on shares of Amgen in a report on Friday, August 9th. Evercore ISI reissued a “hold” rating on shares of Amgen in a report on Sunday, August 11th. Finally, Morgan Stanley lowered their price target on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $212.94.

In related news, Director R Sanders Williams sold 425 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now owns 16,336 shares in the company, valued at approximately $2,990,141.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $175.68, for a total transaction of $351,360.00. Following the sale, the director now owns 16,219 shares in the company, valued at approximately $2,849,353.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,425 shares of company stock worth $804,312. Company insiders own 0.25% of the company’s stock.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. 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; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Understanding Average Daily Trade Volume

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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