RNC Capital Management LLC Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

RNC Capital Management LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,955 shares of the medical research company’s stock after selling 182 shares during the period. RNC Capital Management LLC’s holdings in Amgen were worth $2,003,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AMGN. Southland Equity Partners LLC lifted its holdings in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC lifted its stake in Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after acquiring an additional 34 shares in the last quarter. FORVIS Wealth Advisors LLC lifted its stake in Amgen by 1.4% in the 4th quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock worth $743,000 after acquiring an additional 35 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Amgen by 4.7% in the 4th quarter. Rosenberg Matthew Hamilton now owns 831 shares of the medical research company’s stock worth $239,000 after acquiring an additional 37 shares in the last quarter. Finally, Quantum Financial Advisors LLC lifted its stake in Amgen by 1.3% in the 4th quarter. Quantum Financial Advisors LLC now owns 2,954 shares of the medical research company’s stock worth $851,000 after acquiring an additional 38 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Wednesday, November 29th. BMO Capital Markets raised Amgen from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. Daiwa Capital Markets raised Amgen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $264.00 to $320.00 in a report on Thursday, December 21st. Royal Bank of Canada increased their price objective on Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $295.30.

Amgen Trading Up 1.6 %

Shares of AMGN opened at $286.30 on Thursday. The stock has a fifty day moving average price of $290.44 and a two-hundred day moving average price of $280.66. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a market cap of $153.43 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 2.63 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the company posted $4.09 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.14%. Amgen’s dividend payout ratio (DPR) is currently 72.06%.

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.