Patten & Patten Inc. TN Has $855,000 Position in Amgen Inc. (NASDAQ:AMGN)

Patten & Patten Inc. TN increased its stake in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,968 shares of the medical research company’s stock after purchasing an additional 133 shares during the quarter. Patten & Patten Inc. TN’s holdings in Amgen were worth $855,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. TIAA Trust National Association boosted its holdings in shares of Amgen by 3.2% during the fourth quarter. TIAA Trust National Association now owns 91,074 shares of the medical research company’s stock worth $26,231,000 after purchasing an additional 2,807 shares during the period. FAS Wealth Partners Inc. boosted its holdings in shares of Amgen by 240.9% during the fourth quarter. FAS Wealth Partners Inc. now owns 7,305 shares of the medical research company’s stock worth $2,104,000 after purchasing an additional 5,162 shares during the period. Fusion Capital LLC boosted its holdings in shares of Amgen by 1.3% during the fourth quarter. Fusion Capital LLC now owns 22,697 shares of the medical research company’s stock worth $6,537,000 after purchasing an additional 289 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Amgen by 7.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,570 shares of the medical research company’s stock worth $1,892,000 after purchasing an additional 442 shares during the period. Finally, Ascent Wealth Partners LLC lifted its stake in Amgen by 3.3% in the fourth quarter. Ascent Wealth Partners LLC now owns 3,741 shares of the medical research company’s stock valued at $1,077,000 after acquiring an additional 120 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. BMO Capital Markets upgraded shares of Amgen from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $326.00 in a research note on Tuesday, December 19th. Oppenheimer reiterated an “outperform” rating and issued a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. UBS Group reduced their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating for the company in a research note on Monday, January 29th. Finally, Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $295.30.

Check Out Our Latest Report on Amgen

Amgen Trading Down 2.4 %

Shares of AMGN stock opened at $276.21 on Wednesday. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The firm’s fifty day simple moving average is $288.00 and its 200 day simple moving average is $281.45. The firm has a market capitalization of $148.03 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 2.69 and a beta of 0.58. 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:AMGNGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. The firm had revenue of $8.20 billion for 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%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.09 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

Amgen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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