RB Capital Management LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

RB Capital Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,692 shares of the medical research company’s stock after acquiring an additional 92 shares during the quarter. Amgen comprises about 1.1% of RB Capital Management LLC’s holdings, making the stock its 22nd largest holding. RB Capital Management LLC’s holdings in Amgen were worth $4,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Lantz Financial LLC boosted its holdings in Amgen by 5.1% in the 2nd quarter. Lantz Financial LLC now owns 1,779 shares of the medical research company’s stock worth $556,000 after acquiring an additional 87 shares during the period. M&G Plc boosted its stake in shares of Amgen by 35.6% during the 2nd quarter. M&G Plc now owns 36,449 shares of the medical research company’s stock valued at $11,372,000 after buying an additional 9,572 shares during the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $402,000. Great Valley Advisor Group Inc. boosted its stake in shares of Amgen by 9.7% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,772 shares of the medical research company’s stock valued at $2,429,000 after buying an additional 686 shares during the last quarter. Finally, Hendley & Co. Inc. purchased a new position in shares of Amgen during the 2nd quarter valued at approximately $368,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMGN shares. UBS Group reduced their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 28th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein assumed coverage on Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $323.05.

Amgen Stock Performance

AMGN opened at $277.63 on Tuesday. The firm has a market capitalization of $149.23 billion, a P/E ratio of 35.55, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The stock’s 50 day moving average price is $305.69 and its two-hundred day moving average price is $315.66. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 18th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, November 18th. Amgen’s payout ratio is presently 115.24%.

About Amgen

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.