Royal Capital Wealth Management LLC Has $762,000 Position in Amgen Inc. (NASDAQ:AMGN)

Royal Capital Wealth Management LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,923 shares of the medical research company’s stock after selling 213 shares during the period. Royal Capital Wealth Management LLC’s holdings in Amgen were worth $762,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. White Knight Strategic Wealth Advisors LLC grew its position in shares of Amgen by 149.5% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 6,578 shares of the medical research company’s stock valued at $1,714,000 after acquiring an additional 3,941 shares during the period. Principal Street Partners LLC boosted its holdings in shares of Amgen by 1.8% during the 4th quarter. Principal Street Partners LLC now owns 19,435 shares of the medical research company’s stock worth $5,065,000 after buying an additional 340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amgen by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after buying an additional 685,785 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Amgen during the 4th quarter worth about $102,597,000. Finally, Worldquant Millennium Advisors LLC bought a new stake in shares of Amgen during the 4th quarter worth about $9,815,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.3%

Shares of NASDAQ AMGN opened at $275.01 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a 50 day moving average price of $289.51 and a two-hundred day moving average price of $287.47. The stock has a market cap of $147.87 billion, a P/E ratio of 36.43, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the company posted $3.96 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 86.86%.

Insider Activity

In other news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. This represents a 40.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Royal Bank of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $309.22.

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.