Redwood Grove Capital LLC Has $19.03 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Redwood Grove Capital LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 17.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,070 shares of the medical research company’s stock after acquiring an additional 8,683 shares during the period. Amgen accounts for approximately 5.2% of Redwood Grove Capital LLC’s holdings, making the stock its 6th largest position. Redwood Grove Capital LLC’s holdings in Amgen were worth $19,033,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AMGN. Charles Schwab Investment Management Inc. raised its holdings in shares of Amgen by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after purchasing an additional 251,876 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after purchasing an additional 538,545 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amgen by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company’s stock worth $1,431,432,000 after buying an additional 264,396 shares during the period. Finally, FMR LLC boosted its holdings in shares of Amgen by 4.5% during the 3rd quarter. FMR LLC now owns 4,247,304 shares of the medical research company’s stock worth $1,368,524,000 after buying an additional 181,703 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AMGN shares. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 28th. Royal Bank of Canada reduced 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $323.05.

Amgen Stock Performance

Amgen stock opened at $278.26 on Thursday. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50-day moving average price is $308.48 and its two-hundred day moving average price is $316.40. The stock has a market cap of $149.57 billion, a PE ratio of 35.63, a P/E/G ratio of 3.08 and a beta of 0.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the business posted $4.96 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.23%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.