KRS Capital Management LLC Sells 242 Shares of Amgen Inc. (NASDAQ:AMGN)

KRS Capital Management LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,715 shares of the medical research company’s stock after selling 242 shares during the quarter. Amgen comprises 0.7% of KRS Capital Management LLC’s holdings, making the stock its 29th largest holding. KRS Capital Management LLC’s holdings in Amgen were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Waterloo Capital L.P. acquired a new stake in Amgen in the second quarter worth about $231,000. Seven Eight Capital LP purchased a new stake in Amgen during the 2nd quarter worth approximately $845,000. XTX Topco Ltd purchased a new position in shares of Amgen in the second quarter worth $661,000. Intech Investment Management LLC lifted its stake in shares of Amgen by 48.9% during the second quarter. Intech Investment Management LLC now owns 53,109 shares of the medical research company’s stock worth $16,594,000 after buying an additional 17,436 shares during the period. Finally, Ieq Capital LLC increased its position in shares of Amgen by 7.8% in the 2nd quarter. Ieq Capital LLC now owns 51,921 shares of the medical research company’s stock valued at $16,222,000 after acquiring an additional 3,757 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Redburn Partners lowered their price target on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Finally, Robert W. Baird reaffirmed an “underperform” rating and set a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $314.91.

Amgen Trading Up 1.0 %

Shares of Amgen stock traded up $2.68 on Friday, reaching $272.11. 3,244,015 shares of the company were exchanged, compared to its average volume of 3,140,853. 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 Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The stock has a fifty day moving average price of $275.01 and a 200-day moving average price of $307.49.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 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 company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 EPS. On average, analysts expect that Amgen Inc. will post 19.57 EPS for the current year.

Amgen Increases Dividend

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