Davis Capital Management Buys 90 Shares of Amgen Inc. (NASDAQ:AMGN)

Davis Capital Management raised its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,930 shares of the medical research company’s stock after purchasing an additional 90 shares during the quarter. Amgen makes up about 1.3% of Davis Capital Management’s portfolio, making the stock its 21st biggest holding. Davis Capital Management’s holdings in Amgen were worth $1,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Amgen in the third quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the 3rd quarter worth approximately $29,000. Hershey Financial Advisers LLC bought a new position in shares of Amgen during the 2nd quarter worth approximately $30,000. Matrix Trust Co bought a new position in shares of Amgen during the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Barclays upped their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Wells Fargo & Company dropped 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, Citigroup dropped their price target on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Trading Up 1.0 %

NASDAQ AMGN opened at $274.81 on Wednesday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a 50-day moving average of $272.95 and a 200-day moving average of $306.92. The firm has a market cap of $147.72 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the company posted $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

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.