Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,779 shares of the medical research company’s stock after buying an additional 1,077 shares during the period. Raleigh Capital Management Inc.’s holdings in Amgen were worth $1,246,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new stake in Amgen in the 3rd quarter valued at $25,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at about $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Amgen during the third quarter worth about $29,000. Matrix Trust Co purchased a new position in shares of Amgen during the third quarter worth about $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Citigroup decreased their price objective on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Royal Bank of Canada cut their price objective on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Bank of America reissued an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $273.44 on Thursday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $146.98 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.79 and a beta of 0.56. The business’s fifty day moving average price is $271.91 and its two-hundred day moving average price is $306.43. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter last year, the business posted $4.96 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.48%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 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.