R.H. Investment Group LLC Acquires Shares of 14,517 Amgen Inc. (NASDAQ:AMGN)

R.H. Investment Group LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,517 shares of the medical research company’s stock, valued at approximately $3,784,000. Amgen comprises approximately 3.6% of R.H. Investment Group LLC’s holdings, making the stock its 17th biggest holding.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its holdings 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 worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC raised its stake 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 in the last quarter. Finally, Nordea Investment Management AB boosted its holdings 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 valued at $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AMGN shares. Citigroup lowered their target price on shares of Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Robert W. Baird restated an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Royal Bank of Canada dropped their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Redburn Partners reduced their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Performance

Shares of AMGN stock opened at $267.10 on Wednesday. The firm has a market capitalization of $143.58 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.91 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The business’s 50-day moving average price is $277.12 and its 200-day moving average price is $308.03. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts forecast that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.56%. Amgen’s payout ratio is currently 121.90%.

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.