KG&L Capital Management LLC Purchases 1,063 Shares of Amgen Inc. (NASDAQ:AMGN)

KG&L Capital Management LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 37.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,881 shares of the medical research company’s stock after buying an additional 1,063 shares during the period. KG&L Capital Management LLC’s holdings in Amgen were worth $1,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Amgen in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Amgen during the third quarter valued at approximately $29,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at approximately $36,000. Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter worth $36,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Amgen during the 3rd quarter worth $56,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMGN. TD Cowen lifted their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Leerink Partners decreased their target price on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Finally, Bank of America reiterated an “underperform” rating and set a $256.00 price target on shares of Amgen in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $314.00.

Amgen Stock Up 0.5 %

Shares of NASDAQ AMGN opened at $285.42 on Friday. The business has a fifty day moving average of $271.06 and a two-hundred day moving average of $304.53. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $153.42 billion, a PE ratio of 36.55, a PEG ratio of 2.85 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 earnings per share. As a group, equities research analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is presently 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.