Fortis Capital Management LLC Has $453,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Fortis Capital Management LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,738 shares of the medical research company’s stock after acquiring an additional 74 shares during the period. Fortis Capital Management LLC’s holdings in Amgen were worth $453,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter worth approximately $29,000. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter worth approximately $34,000. Atala Financial Inc acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.3 %

AMGN opened at $316.04 on Friday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $169.78 billion, a PE ratio of 41.86, a P/E/G ratio of 2.63 and a beta of 0.53. The company’s 50-day moving average is $297.24 and its 200 day moving average is $298.80.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is presently 126.09%.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. 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. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Redburn Partners reduced their price objective on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $314.04.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. The trade was a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,341 shares of company stock valued at $20,644,335. Company insiders own 0.69% of the company’s stock.

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.