Koshinski Asset Management Inc. Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Koshinski Asset Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,100 shares of the medical research company’s stock after acquiring an additional 260 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Amgen were worth $2,893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Amgen during the third quarter worth about $29,000. Hershey Financial Advisers LLC acquired a new stake in shares of Amgen during the second quarter worth about $30,000. Matrix Trust Co purchased a new stake in shares of Amgen in the 3rd quarter valued at about $36,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Amgen in the 3rd quarter valued at about $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Redburn Partners cut their price target on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Piper Sandler Companies reiterated an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. TD Cowen increased their target price on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $314.91.

Amgen Stock Up 1.0 %

AMGN opened at $272.11 on Tuesday. The firm has a market cap of $146.27 billion, a P/E ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The business’s fifty day simple moving average is $273.95 and its 200 day simple moving average is $307.18. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for 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 firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $4.96 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. Amgen’s payout ratio is 121.90%.

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.