KPP Advisory Services LLC Has $812,000 Position in Amgen Inc. (NASDAQ:AMGN)

KPP Advisory Services LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,117 shares of the medical research company’s stock after purchasing an additional 185 shares during the period. KPP Advisory Services LLC’s holdings in Amgen were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Talbot Financial LLC raised its holdings in Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after buying an additional 2,274 shares during the last quarter. Swiss National Bank raised its holdings in Amgen by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock valued at $513,033,000 after buying an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC raised its holdings in Amgen by 9.0% in the 3rd quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after buying an additional 2,954 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Amgen by 6.0% in the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after buying an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in Amgen by 3.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after buying an additional 1,872 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN opened at $285.42 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a 50 day moving average price of $271.06 and a two-hundred day moving average price of $304.33. The firm has a market capitalization of $153.42 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.85 and a beta of 0.56.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.34%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMGN shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. UBS Group dropped their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Two research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $314.00.

About Amgen

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.