Davis Capital Management Makes New Investment in Amgen Inc. $AMGN

Davis Capital Management bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,523 shares of the medical research company’s stock, valued at approximately $1,841,000. Amgen accounts for about 1.3% of Davis Capital Management’s investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors also recently added to or reduced their stakes in AMGN. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. AQR Capital Management LLC increased its stake in shares of Amgen by 103.0% during the first quarter. AQR Capital Management LLC now owns 91,493 shares of the medical research company’s stock valued at $28,321,000 after buying an additional 46,417 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Amgen by 9.7% in the first quarter. NewEdge Advisors LLC now owns 75,784 shares of the medical research company’s stock valued at $23,611,000 after acquiring an additional 6,685 shares in the last quarter. New England Asset Management Inc. lifted its stake in Amgen by 10.1% in the first quarter. New England Asset Management Inc. now owns 21,295 shares of the medical research company’s stock worth $6,634,000 after acquiring an additional 1,950 shares during the period. Finally, Plancorp LLC increased its position in Amgen by 1.4% during the 1st quarter. Plancorp LLC now owns 3,072 shares of the medical research company’s stock valued at $957,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.1%

Amgen stock opened at $327.64 on Friday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.99 and a current ratio of 1.28. The stock has a market cap of $176.43 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 2.98 and a beta of 0.45. The stock has a 50-day moving average of $326.08 and a two-hundred day moving average of $302.88. Amgen Inc. has a one year low of $257.05 and a one year high of $346.38.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s dividend payout ratio is presently 73.57%.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the sale, the senior vice president owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total value of $2,317,053.57. Following the completion of the transaction, the executive vice president owned 41,923 shares of the company’s stock, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,908 shares of company stock valued at $3,674,966 over the last ninety days. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. DZ Bank upped their price target on shares of Amgen from $335.00 to $364.00 in a research report on Monday, November 10th. Bank of America increased their target price on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Morgan Stanley reduced their price target on Amgen from $329.00 to $304.00 and set an “equal weight” rating for the company in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft lifted their target price on Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company boosted their target price on shares of Amgen from $300.00 to $325.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $335.35.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.