Patron Partners LLC Has $2.91 Million Position in Amgen Inc. (NASDAQ:AMGN)

Patron Partners LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 17.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,327 shares of the medical research company’s stock after purchasing an additional 1,417 shares during the period. Amgen makes up approximately 1.7% of Patron Partners LLC’s holdings, making the stock its 11th largest position. Patron Partners LLC’s holdings in Amgen were worth $2,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kinsale Capital Group Inc. grew its stake in shares of Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after acquiring an additional 2,814 shares during the last quarter. TCW Group Inc. boosted its holdings in Amgen by 25.1% in the 4th quarter. TCW Group Inc. now owns 174,891 shares of the medical research company’s stock valued at $50,376,000 after purchasing an additional 35,040 shares during the period. Grassi Investment Management acquired a new stake in Amgen in the 1st quarter worth $2,283,000. Public Employees Retirement System of Ohio increased its holdings in shares of Amgen by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 281,791 shares of the medical research company’s stock worth $81,161,000 after purchasing an additional 4,376 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Amgen during the fourth quarter valued at about $2,866,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AMGN shares. Jefferies Financial Group reissued a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. TD Cowen lifted their price objective on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $327.28.

Amgen Price Performance

Amgen stock opened at $320.56 on Friday. The business’s fifty day moving average is $326.26 and its two-hundred day moving average is $302.12. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market cap of $171.96 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.58. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned $5.00 EPS. Equities research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.