Amgen Inc. (NASDAQ:AMGN) Shares Acquired by RB Capital Management LLC

RB Capital Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,783 shares of the medical research company’s stock after acquiring an additional 194 shares during the quarter. Amgen makes up about 1.1% of RB Capital Management LLC’s investment portfolio, making the stock its 21st largest position. RB Capital Management LLC’s holdings in Amgen were worth $3,970,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AMGN. OFI Invest Asset Management acquired a new stake in shares of Amgen during the 3rd quarter worth approximately $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the 3rd quarter worth $26,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the 4th quarter worth about $29,000. Providence Capital Advisors LLC acquired a new position in shares of Amgen during the third quarter worth about $30,000. Finally, Planned Solutions Inc. acquired a new stake in Amgen in the fourth quarter valued at approximately $30,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMGN shares. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Morgan Stanley dropped their price target on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Oppenheimer restated an “outperform” rating and set a $350.00 target price on shares of Amgen in a research report on Thursday, February 1st. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $297.40.

Amgen Trading Up 1.3 %

NASDAQ AMGN traded up $3.46 during mid-day trading on Wednesday, hitting $277.40. The company’s stock had a trading volume of 2,278,366 shares, compared to its average volume of 2,801,406. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The stock’s fifty day simple moving average is $274.76 and its two-hundred day simple moving average is $281.37. The firm has a market capitalization of $148.79 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. 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 prior year, the company earned $4.09 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed 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 3.24%. 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.