RNC Capital Management LLC grew its position in Amgen, Inc. (NASDAQ:AMGN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,624 shares of the medical research company’s stock after buying an additional 1,560 shares during the quarter. Amgen accounts for approximately 2.1% of RNC Capital Management LLC’s holdings, making the stock its 27th biggest holding. RNC Capital Management LLC’s holdings in Amgen were worth $30,541,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. increased its position in shares of Amgen by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Amgen by 0.3% in the second quarter. Ballentine Partners LLC now owns 3,441 shares of the medical research company’s stock valued at $620,000 after buying an additional 9 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Amgen by 0.5% in the second quarter. Hudock Capital Group LLC now owns 1,921 shares of the medical research company’s stock valued at $330,000 after buying an additional 10 shares in the last quarter. South Texas Money Management Ltd. increased its position in shares of Amgen by 0.7% in the second quarter. South Texas Money Management Ltd. now owns 3,223 shares of the medical research company’s stock valued at $555,000 after buying an additional 22 shares in the last quarter. Finally, Burt Wealth Advisors increased its position in shares of Amgen by 0.8% in the second quarter. Burt Wealth Advisors now owns 3,040 shares of the medical research company’s stock valued at $523,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.
AMGN has been the subject of a number of recent research reports. BMO Capital Markets reiterated a “market perform” rating and set a $198.00 price objective on shares of Amgen in a research report on Thursday, October 26th. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 2nd. Goldman Sachs Group cut Amgen from a “conviction-buy” rating to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Amgen in a research report on Tuesday, January 2nd. Sixteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Amgen presently has an average rating of “Hold” and a consensus target price of $191.84.
Shares of Amgen, Inc. (AMGN) opened at $182.98 on Wednesday. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35. Amgen, Inc. has a 52 week low of $152.16 and a 52 week high of $201.23. The stock has a market capitalization of $132,259.19, a PE ratio of 71.20, a price-to-earnings-growth ratio of 2.19 and a beta of 1.42.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.14). Amgen had a return on equity of 30.87% and a net margin of 8.66%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business posted $2.89 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. equities analysts predict that Amgen, Inc. will post 13.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 205.45%.
Amgen declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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