Amgen Inc. (NASDAQ:AMGN) Position Increased by Davis Capital Management

Davis Capital Management raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,930 shares of the medical research company’s stock after purchasing an additional 90 shares during the period. Amgen comprises about 1.3% of Davis Capital Management’s portfolio, making the stock its 21st largest holding. Davis Capital Management’s holdings in Amgen were worth $1,546,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Pathway Financial Advisers LLC grew its stake in 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 buying an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC grew its stake in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $274.81 on Wednesday. The firm has a market cap of $147.72 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock’s 50-day moving average is $272.95 and its 200-day moving average is $306.92. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the firm earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. 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 currently 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a research note on Wednesday, September 25th. UBS Group cut their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Bank of America reiterated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research report on Thursday, January 2nd. Two equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $314.91.

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.