Koshinski Asset Management Inc. Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

Koshinski Asset Management Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,100 shares of the medical research company’s stock after buying an additional 260 shares during the period. Koshinski Asset Management Inc.’s holdings in Amgen were worth $2,893,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AMGN. Harbor Investment Advisory LLC grew its holdings in Amgen by 2.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 25,009 shares of the medical research company’s stock valued at $6,518,000 after buying an additional 697 shares in the last quarter. Zhang Financial LLC boosted its position in shares of Amgen by 6.0% during the 4th quarter. Zhang Financial LLC now owns 16,165 shares of the medical research company’s stock valued at $4,213,000 after acquiring an additional 915 shares during the last quarter. Corundum Group Inc. grew its holdings in shares of Amgen by 103.3% in the fourth quarter. Corundum Group Inc. now owns 3,996 shares of the medical research company’s stock valued at $1,042,000 after purchasing an additional 2,030 shares in the last quarter. Purus Wealth Management LLC increased its position in Amgen by 1.0% in the fourth quarter. Purus Wealth Management LLC now owns 8,387 shares of the medical research company’s stock worth $2,186,000 after purchasing an additional 84 shares during the last quarter. Finally, M.E. Allison & CO. Inc. purchased a new stake in Amgen during the fourth quarter valued at $388,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN opened at $272.11 on Tuesday. The company has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm’s fifty day simple moving average is $273.95 and its two-hundred day simple moving average is $307.18. 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 issued its 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 business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’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 firm posted $4.96 EPS. Equities analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 121.90%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMGN shares. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. 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 objective for the company. Citigroup reduced their target price on shares of Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $314.91.

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.