Royal Fund Management LLC Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Royal Fund Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,077 shares of the medical research company's stock after acquiring an additional 4,942 shares during the period. Royal Fund Management LLC's holdings in Amgen were worth $5,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Pathway Financial Advisers LLC increased its position in shares of Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company's stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its position in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. grew its position in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company's stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC grew its position in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company's stock worth $223,897,000 after purchasing an additional 748,200 shares during the period. Finally, Nordea Investment Management AB grew its position in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Leerink Partners cut their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They set an "outperform" rating and a $380.00 price objective for the company. Robert W. Baird reissued an "underperform" rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Finally, Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $314.91.

Amgen Price Performance

Shares of AMGN stock traded up $2.70 on Tuesday, reaching $274.81. 3,927,929 shares of the company were exchanged, compared to its average volume of 3,185,471. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The company has a market cap of $147.72 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The business has a 50-day moving average price of $272.95 and a 200 day moving average price of $306.92. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen's revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 EPS. Equities research analysts forecast that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.46%. This is a positive change from Amgen's previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. 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.