Koss Olinger Consulting LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Koss Olinger Consulting LLC acquired 4,229 shares of Amgen Inc. for approximately $1,318,000 in the 1st quarter, indicating growing institutional interest in the company.
• Amgen has recently seen strong quarterly earnings, reporting $6.02 EPS, beating estimates and showcasing a 9.4% year-over-year revenue increase.
• The company declared a quarterly dividend of $2.38 per share, reflecting a 3.3% dividend yield based on an annualized payout of $9.52.

Koss Olinger Consulting LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,229 shares of the medical research company's stock, valued at approximately $1,318,000.

A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Pinney & Scofield Inc. purchased a new stake in Amgen during the 4th quarter worth $26,000. First Pacific Financial lifted its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Amgen in the 4th quarter worth $36,000. Legacy Investment Solutions LLC lifted its holdings in Amgen by 46.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after buying an additional 45 shares in the last quarter. Finally, South Plains Financial Inc. acquired a new position in Amgen in the 4th quarter worth $37,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company's stock.

Amgen Stock Performance

AMGN traded down $0.11 on Tuesday, hitting $284.98. 2,189,061 shares of the company's stock were exchanged, compared to its average volume of 2,894,184. The firm has a market cap of $153.42 billion, a PE ratio of 23.30, a P/E/G ratio of 2.49 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The stock has a fifty day moving average of $293.16 and a two-hundred day moving average of $292.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.97 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen's dividend payout ratio is 77.84%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group cut their price objective on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday. Mizuho boosted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus price target of $303.76.

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.