Interchange Capital Partners LLC Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Interchange Capital Partners LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the medical research company’s stock after selling 68 shares during the period. Interchange Capital Partners LLC’s holdings in Amgen were worth $506,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meyer Handelman Co. grew its position in Amgen by 7.2% during the second quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock valued at $40,566,000 after buying an additional 8,700 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Amgen by 11.0% in the 1st quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock worth $6,758,000 after purchasing an additional 2,353 shares during the period. BNP Paribas purchased a new position in Amgen in the first quarter valued at approximately $4,772,000. Stanley Laman Group Ltd. bought a new position in Amgen during the second quarter valued at $3,354,000. Finally, Verity & Verity LLC increased its position in Amgen by 2.7% in the second quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after buying an additional 2,182 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.0 %

Shares of AMGN stock traded down $0.06 during mid-day trading on Friday, reaching $320.10. 275,688 shares of the company’s stock traded hands, compared to its average volume of 2,410,774. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The company’s 50-day moving average price is $324.66 and its 200-day moving average price is $314.82. The company has a market cap of $172.00 billion, a P/E ratio of 40.99, a P/E/G ratio of 2.84 and a beta of 0.61. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 181.58%. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.96 EPS. On average, equities analysts expect that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMGN. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 price objective (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday. Bank of America raised their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $362.00 price objective on shares of Amgen in a research note on Thursday, September 26th. Finally, Truist Financial downgraded Amgen from a “buy” rating to a “hold” rating and raised their target price for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.50.

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.