RNC Capital Management LLC Sells 175 Shares of Amgen Inc. $AMGN

RNC Capital Management LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,030 shares of the medical research company’s stock after selling 175 shares during the period. RNC Capital Management LLC’s holdings in Amgen were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Brighton Jones LLC grew its position in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. GAMMA Investing LLC grew its position in Amgen by 40.2% during the first quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after acquiring an additional 3,369 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Amgen by 4.2% during the first quarter. Flagship Harbor Advisors LLC now owns 3,078 shares of the medical research company’s stock valued at $959,000 after acquiring an additional 124 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Amgen during the first quarter valued at approximately $276,000. Finally, Global Assets Advisory LLC grew its position in Amgen by 158.9% during the first quarter. Global Assets Advisory LLC now owns 2,775 shares of the medical research company’s stock valued at $813,000 after acquiring an additional 1,703 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $295.98 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The firm has a market capitalization of $159.34 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.66 and a beta of 0.49. The stock has a fifty day moving average of $287.97 and a 200 day moving average of $287.21. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Raymond James Financial initiated coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Finally, Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $300.94.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

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.