Kendall Capital Management Sells 170 Shares of Amgen Inc. (NASDAQ:AMGN)

Kendall Capital Management lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,621 shares of the medical research company’s stock after selling 170 shares during the period. Kendall Capital Management’s holdings in Amgen were worth $1,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc bought a new stake in shares of Amgen during the third quarter worth about $26,000. VisionPoint Advisory Group LLC bought a new stake in shares of Amgen during the second quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Amgen during the first quarter worth about $28,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Amgen during the third quarter worth about $30,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $329.00 target price on shares of Amgen in a research report on Wednesday, April 3rd. Leerink Partnrs cut Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Daiwa Capital Markets upgraded Amgen from a “neutral” rating to a “buy” rating and raised their price target for the stock from $264.00 to $320.00 in a research report on Thursday, December 21st. Finally, Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $295.30.

Amgen Stock Down 1.8 %

AMGN stock traded down $4.93 during trading on Wednesday, reaching $265.43. The stock had a trading volume of 735,475 shares, compared to its average volume of 2,902,992. The firm has a fifty day moving average price of $283.93 and a 200 day moving average price of $281.56. The company has a market capitalization of $142.25 billion, a P/E ratio of 21.65, a PEG ratio of 2.54 and a beta of 0.58. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 EPS. On average, equities analysts anticipate that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.39%. Amgen’s dividend payout ratio (DPR) is 72.06%.

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.