KFG Wealth Management LLC Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

KFG Wealth Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,249 shares of the medical research company’s stock after purchasing an additional 49 shares during the period. KFG Wealth Management LLC’s holdings in Amgen were worth $847,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC lifted its position in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. International Assets Investment Management LLC raised its stake in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. raised its stake in Amgen by 561.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after acquiring an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Sanford C. Bernstein began coverage on Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price target on the stock. Wells Fargo & Company dropped their price objective on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $314.65.

Amgen Stock Performance

AMGN stock opened at $275.42 on Friday. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50-day moving average price of $271.39 and a 200 day moving average price of $305.99. The company has a market capitalization of $148.05 billion, a P/E ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 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.