Red Door Wealth Management LLC Has $7.60 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Red Door Wealth Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,151 shares of the medical research company’s stock after buying an additional 1,241 shares during the quarter. 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.

A number of other institutional investors also recently modified their holdings of AMGN. Talbot Financial LLC boosted its holdings in Amgen by 5.6% in the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after acquiring an additional 2,274 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Amgen by 0.3% during the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC grew its holdings in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Amgen by 6.0% during the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock worth $204,659,000 after buying an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after acquiring an additional 1,872 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $277.88 on Friday. The firm has a market cap of $149.37 billion, a PE ratio of 35.58, a P/E/G ratio of 2.79 and a beta of 0.56. The stock has a 50-day moving average price of $271.91 and a 200-day moving average price of $306.43. 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 issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed 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 represents a $9.52 annualized dividend and a yield of 3.43%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMGN shares. Bank of America reiterated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Citigroup cut their price target on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Barclays increased their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Company 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.