RNC Capital Management LLC Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

RNC Capital Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,955 shares of the medical research company’s stock after selling 182 shares during the quarter. RNC Capital Management LLC’s holdings in Amgen were worth $2,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Moneta Group Investment Advisors LLC increased its holdings in shares of Amgen by 83,875.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after acquiring an additional 7,532,031 shares in the last quarter. Norges Bank bought a new stake in Amgen in the 4th quarter worth about $1,351,778,000. Price T Rowe Associates Inc. MD increased its holdings in Amgen by 158.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after buying an additional 1,806,456 shares in the last quarter. Morgan Stanley increased its holdings in Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Amgen by 164.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after buying an additional 832,885 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 1.6 %

NASDAQ AMGN opened at $286.30 on Thursday. The stock’s 50 day moving average is $290.44 and its 200 day moving average is $280.66. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The stock has a market cap of $153.43 billion, a PE ratio of 22.92, a P/E/G ratio of 2.63 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping 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 company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the firm earned $4.09 EPS. The firm’s revenue was up 19.8% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMGN shares. The Goldman Sachs Group lifted their price objective on Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. BMO Capital Markets upgraded Amgen from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Oppenheimer restated an “outperform” rating and set a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. Finally, Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $295.30.

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.