Citizens Financial Group Inc. RI Has $3.44 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Citizens Financial Group Inc. RI grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,943 shares of the medical research company’s stock after buying an additional 943 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Amgen were worth $3,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Patriot Financial Group Insurance Agency LLC increased its position in Amgen by 2.2% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,398 shares of the medical research company’s stock worth $913,000 after purchasing an additional 73 shares during the period. Connecticut Wealth Management LLC increased its position in Amgen by 11.2% in the third quarter. Connecticut Wealth Management LLC now owns 1,763 shares of the medical research company’s stock worth $474,000 after purchasing an additional 177 shares during the period. KRS Capital Management LLC increased its position in Amgen by 5.4% in the third quarter. KRS Capital Management LLC now owns 2,850 shares of the medical research company’s stock worth $766,000 after purchasing an additional 147 shares during the period. First Personal Financial Services increased its position in Amgen by 4.4% in the third quarter. First Personal Financial Services now owns 18,629 shares of the medical research company’s stock worth $5,007,000 after purchasing an additional 783 shares during the period. Finally, Walkner Condon Financial Advisors LLC increased its position in Amgen by 42.2% in the third quarter. Walkner Condon Financial Advisors LLC now owns 1,330 shares of the medical research company’s stock worth $357,000 after purchasing an additional 395 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. SVB Leerink lowered Amgen from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Oppenheimer restated an “outperform” rating and set a $350.00 target price on shares of Amgen in a report on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $296.95.

Amgen Stock Up 0.2 %

Shares of NASDAQ:AMGN traded up $0.60 during trading on Friday, hitting $269.98. 2,436,959 shares of the company’s stock traded hands, compared to its average volume of 2,035,139. The company has a 50-day moving average price of $275.10 and a 200-day moving average price of $281.45. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a market cap of $144.81 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.60 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter last year, the firm earned $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is presently 72.06%.

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.