Kings Path Partners LLC Has $988,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Kings Path Partners LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 13.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,789 shares of the medical research company’s stock after selling 579 shares during the quarter. Kings Path Partners LLC’s holdings in Amgen were worth $988,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its stake in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after purchasing an additional 4,446,757 shares during the period. International Assets Investment Management LLC grew its holdings in Amgen by 6,812.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after buying an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Amgen by 561.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after buying an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in shares of Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Citigroup lowered their price target on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Redburn Partners reduced their price objective on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Finally, Truist Financial lowered shares of Amgen from a “buy” rating to a “hold” rating and boosted their price target for the company from $320.00 to $333.00 in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $318.83.

Amgen Price Performance

Shares of AMGN stock traded down $1.89 during trading hours on Monday, reaching $259.33. 1,468,309 shares of the company were exchanged, compared to its average volume of 2,221,936. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two 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. The stock’s fifty day moving average is $284.63 and its two-hundred day moving average is $310.47. The company has a market cap of $139.40 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 2.91 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $4.96 EPS. Sell-side analysts forecast that Amgen Inc. will post 19.53 earnings per share for the current fiscal year.

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 is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s payout ratio is currently 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.