RB Capital Management LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

RB Capital Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,783 shares of the medical research company’s stock after purchasing an additional 194 shares during the period. Amgen makes up 1.1% of RB Capital Management LLC’s portfolio, making the stock its 21st biggest position. RB Capital Management LLC’s holdings in Amgen were worth $3,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in Amgen in the 3rd quarter worth about $26,000. Briaud Financial Planning Inc acquired a new stake in Amgen in the 3rd quarter valued at about $26,000. BOK Financial Private Wealth Inc. bought a new stake in Amgen during the fourth quarter worth approximately $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen in the 3rd quarter worth $30,000. Finally, Planned Solutions Inc. purchased a new stake in Amgen during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. TD Cowen cut their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group increased their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Finally, SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $297.40.

Amgen Trading Up 1.3 %

AMGN traded up $3.46 during mid-day trading on Wednesday, hitting $277.40. The stock had a trading volume of 2,278,366 shares, compared to its average volume of 2,801,406. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The firm has a market capitalization of $148.79 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $274.76 and its 200-day simple moving average is $281.37.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.13 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.24%. Amgen’s dividend payout ratio 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.