Red Door Wealth Management LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Red Door Wealth Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,151 shares of the medical research company’s stock after buying an additional 1,241 shares during the period. Amgen makes up about 1.2% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. Red Door Wealth Management LLC’s holdings in Amgen were worth $7,598,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Insigneo Advisory Services LLC increased its holdings in Amgen by 31.7% during the second quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock valued at $1,257,000 after buying an additional 930 shares during the last quarter. APG Asset Management US Inc. increased its stake in shares of Amgen by 2.2% in the 2nd quarter. APG Asset Management US Inc. now owns 158,539 shares of the medical research company’s stock worth $49,307,000 after purchasing an additional 3,450 shares in the last quarter. APG Asset Management N.V. raised its holdings in Amgen by 11.8% in the 2nd quarter. APG Asset Management N.V. now owns 629,733 shares of the medical research company’s stock worth $183,588,000 after purchasing an additional 66,416 shares during the period. Drucker Wealth 3.0 LLC purchased a new position in Amgen during the second quarter valued at $3,167,000. Finally, Delta Investment Management LLC increased its position in Amgen by 3.3% in the second quarter. Delta Investment Management LLC now owns 1,903 shares of the medical research company’s stock worth $595,000 after buying an additional 61 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMGN shares. Barclays boosted their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Piper Sandler Companies restated an “overweight” rating and set a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Royal Bank of Canada dropped their target price on shares of Amgen from $360.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company decreased their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Finally, TD Cowen increased their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $314.91.

Amgen Stock Performance

Shares of AMGN opened at $277.88 on Friday. The stock has a 50-day moving average of $271.91 and a two-hundred day moving average of $306.43. The stock has a market cap of $149.37 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.79 and a beta of 0.56. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.57 EPS for the current 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 issued a $2.38 dividend. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.43%. 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.