Royal Fund Management LLC Has $5.35 Million Position in Amgen Inc. (NASDAQ:AMGN)

Royal Fund Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 32.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,077 shares of the medical research company’s stock after purchasing an additional 4,942 shares during the period. Royal Fund Management LLC’s holdings in Amgen were worth $5,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Ascent Group LLC raised its stake in shares of Amgen by 0.3% in the second quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock valued at $3,421,000 after buying an additional 31 shares during the period. Cadinha & Co. LLC raised its stake in Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after acquiring an additional 32 shares during the period. Lansing Street Advisors lifted its holdings in Amgen by 1.3% during the third quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock valued at $832,000 after purchasing an additional 32 shares during the last quarter. Unionview LLC boosted its position in Amgen by 3.8% during the third quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. Finally, Traveka Wealth LLC increased its stake in shares of Amgen by 4.3% in the third quarter. Traveka Wealth LLC now owns 807 shares of the medical research company’s stock worth $260,000 after purchasing an additional 33 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $272.11 on Tuesday. 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 50 day simple moving average of $273.95 and a two-hundred day simple moving average of $307.18. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last issued its quarterly 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 firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. Analysts expect that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

Several research analysts have commented on AMGN shares. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Sanford C. Bernstein started coverage on shares of Amgen in a research note on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Citigroup lowered their target price on shares of Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research report on Friday, January 10th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $314.91.

Amgen Profile

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.