Tamar Securities LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Tamar Securities LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,088 shares of the medical research company’s stock after acquiring an additional 4,537 shares during the quarter. Amgen accounts for about 2.1% of Tamar Securities LLC’s holdings, making the stock its 22nd biggest position. Tamar Securities LLC’s holdings in Amgen were worth $14,879,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Talbot Financial LLC boosted its stake in shares of Amgen by 5.6% during the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after acquiring an additional 2,274 shares in the last quarter. Swiss National Bank lifted its stake in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares in the last quarter. Asset Advisors Investment Management LLC lifted its stake in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after buying an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Leerink Partners reduced their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price of $314.00.

Amgen Price Performance

AMGN opened at $282.95 on Tuesday. The firm has a market cap of $152.09 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company’s 50-day moving average price is $271.39 and its 200 day moving average price is $305.81. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The company 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. The ex-dividend date is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.36%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. 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.