RNC Capital Management LLC Has $8.97 Million Position in Amgen Inc. (NASDAQ:AMGN)

RNC Capital Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,144 shares of the medical research company’s stock after selling 252 shares during the quarter. RNC Capital Management LLC’s holdings in Amgen were worth $8,968,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Amgen by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 47,459,511 shares of the medical research company’s stock valued at $10,697,373,000 after purchasing an additional 1,310,894 shares during the period. FMR LLC increased its stake in shares of Amgen by 24.9% in the second quarter. FMR LLC now owns 8,911,384 shares of the medical research company’s stock worth $2,168,140,000 after acquiring an additional 1,774,223 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after acquiring an additional 94,565 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Amgen by 1.3% in the third quarter. Royal Bank of Canada now owns 6,097,683 shares of the medical research company’s stock worth $1,374,419,000 after acquiring an additional 75,721 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Amgen by 1.6% in the third quarter. California Public Employees Retirement System now owns 2,462,101 shares of the medical research company’s stock worth $554,958,000 after acquiring an additional 37,706 shares during the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Down 2.0 %

AMGN stock opened at $229.79 on Friday. The company has a debt-to-equity ratio of 10.20, a current ratio of 1.41 and a quick ratio of 1.10. Amgen Inc. has a 52-week low of $223.30 and a 52-week high of $296.67. The company has a 50-day moving average of $245.91 and a two-hundred day moving average of $254.71. The stock has a market capitalization of $122.70 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.65.

Amgen (NASDAQ:AMGNGet Rating) last released its quarterly earnings results on Tuesday, February 7th. The medical research company reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.05. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same period in the prior year, the company earned $4.36 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 17.72 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Thursday, May 18th will be issued a dividend of $2.13 per share. This represents a $8.52 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, May 17th. Amgen’s dividend payout ratio (DPR) is 70.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMGN. Credit Suisse Group dropped their price target on shares of Amgen from $240.00 to $220.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 1st. Oppenheimer dropped their price target on shares of Amgen from $312.00 to $294.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Barclays dropped their price target on shares of Amgen from $240.00 to $230.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 1st. BMO Capital Markets lowered their target price on shares of Amgen from $276.00 to $253.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 1st. Finally, StockNews.com started coverage on shares of Amgen in a research report on Thursday. They set a “strong-buy” rating on the stock. Four investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $251.44.

About Amgen

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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