Ayrshire Capital Management LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Ayrshire Capital Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,354 shares of the medical research company’s stock after buying an additional 67 shares during the period. Ayrshire Capital Management LLC’s holdings in Amgen were worth $881,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMGN. EdgeRock Capital LLC purchased a new position in shares of Amgen in the 3rd quarter valued at $25,000. Leelyn Smith LLC grew its position in shares of Amgen by 80.3% in the 3rd quarter. Leelyn Smith LLC now owns 110 shares of the medical research company’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Capital Wealth Alliance LLC purchased a new position in shares of Amgen in the 2nd quarter valued at $26,000. Glassy Mountain Advisors Inc. purchased a new position in shares of Amgen in the 4th quarter valued at $26,000. Finally, Coston McIsaac & Partners purchased a new position in Amgen during the 2nd quarter worth $27,000. 75.53% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 2.0 %

Shares of NASDAQ AMGN opened at $229.79 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.41 and a debt-to-equity ratio of 10.20. Amgen Inc. has a 52 week low of $223.30 and a 52 week high of $296.67. The firm has a 50-day moving average price of $245.91 and a 200 day moving average price of $254.81. The stock has a market capitalization of $122.70 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65.

Amgen (NASDAQ:AMGN – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The medical research company reported $4.09 EPS for the quarter, beating the consensus estimate of $4.04 by $0.05. Amgen had a net margin of 24.89% and a return on equity of 359.47%. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter last year, the business earned $4.36 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 17.72 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be paid a $2.13 dividend. This represents a $8.52 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, May 17th. Amgen’s dividend payout ratio (DPR) is 70.36%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Royal Bank of Canada lowered their price objective on shares of Amgen from $268.00 to $258.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 1st. Argus lowered their price objective on shares of Amgen from $300.00 to $270.00 in a research report on Monday, February 6th. Cowen lowered their price objective on shares of Amgen from $307.00 to $289.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 1st. Truist Financial lowered their price objective on shares of Amgen from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. Finally, SVB Leerink lowered their price objective on shares of Amgen from $282.00 to $267.00 and set a “market perform” rating on the stock in a research report on Thursday, February 2nd. Four research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $251.44.

Amgen Profile

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Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture, and marketing of human therapeutics. It operates through Human Therapeutics segment. The company was founded by William K. Bowes, Jr., Franklin Pitcher Johnson, Jr., George B. Rathmann, and Joseph Rubinfeld on April 8, 1980 and is headquartered in Thousand Oaks, CA.