Kelly Financial Services LLC Buys Shares of 14,517 Amgen Inc. (NASDAQ:AMGN)

Kelly Financial Services LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,517 shares of the medical research company’s stock, valued at approximately $3,784,000. Amgen makes up approximately 1.1% of Kelly Financial Services LLC’s portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also made changes to their positions in AMGN. Talbot Financial LLC grew its holdings in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock valued at $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the period. Asset Advisors Investment Management LLC grew its stake 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 worth $204,659,000 after acquiring an additional 35,785 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Amgen by 3.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock worth $19,581,000 after acquiring an additional 1,872 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $272.11 on Friday. The firm has a market capitalization of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The stock has a fifty day moving average price of $273.95 and a two-hundred day moving average price of $307.22. 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 current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion during 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% on a year-over-year basis. During the same quarter last year, the company posted $4.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 19.57 EPS 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 3.50%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is presently 115.24%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Wells Fargo & Company cut their price target on Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. UBS Group lowered their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $314.91.

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.