KPP Advisory Services LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)

KPP Advisory Services LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,932 shares of the medical research company’s stock after acquiring an additional 130 shares during the period. KPP Advisory Services LLC’s holdings in Amgen were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Capital International Investors boosted its stake in shares of Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after purchasing an additional 162,223 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of 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 buying an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after buying an additional 1,377,007 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 4.2 %

Shares of AMGN traded down $12.32 during midday trading on Friday, hitting $283.61. The stock had a trading volume of 5,325,131 shares, compared to its average volume of 2,453,793. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The business has a 50-day simple moving average of $320.85 and a two-hundred day simple moving average of $318.05. The firm has a market cap of $152.45 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down previously from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target for the company. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday. UBS Group dropped their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

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.