RNC Capital Management LLC Sells 150 Shares of Amgen Inc. (NASDAQ:AMGN)

RNC Capital Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,255 shares of the medical research company’s stock after selling 150 shares during the period. RNC Capital Management LLC’s holdings in Amgen were worth $848,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the third quarter valued at approximately $29,000. Matrix Trust Co acquired a new position in Amgen in the third quarter valued at approximately $36,000. Heck Capital Advisors LLC acquired a new position in shares of Amgen during the fourth quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Amgen during the third quarter worth approximately $56,000. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Down 3.3 %

Shares of Amgen stock opened at $297.78 on Friday. The stock has a market cap of $160.07 billion, a P/E ratio of 38.13, a P/E/G ratio of 2.87 and a beta of 0.56. The stock’s 50 day simple moving average is $271.69 and its 200-day simple moving average is $303.55. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Analysts predict that Amgen Inc. will post 19.56 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. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.20%. Amgen’s payout ratio is presently 126.09%.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Sanford C. Bernstein assumed coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective on the stock. Finally, Piper Sandler reduced their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $314.83.

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.