Amgen Inc. (NASDAQ:AMGN) Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,430 shares of the medical research company’s stock after selling 619 shares during the period. Patton Fund Management Inc.’s holdings in Amgen were worth $3,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. nVerses Capital LLC grew its holdings in Amgen by 800.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the medical research company’s stock valued at $290,000 after buying an additional 800 shares during the period. Tamar Securities LLC boosted its position in shares of Amgen by 19.2% in the third quarter. Tamar Securities LLC now owns 52,551 shares of the medical research company’s stock worth $16,933,000 after acquiring an additional 8,482 shares during the last quarter. Horizon Wealth Management LLC grew its holdings in Amgen by 3.7% in the third quarter. Horizon Wealth Management LLC now owns 1,074 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 38 shares during the period. Cornerstone Wealth Management LLC increased its position in Amgen by 73.2% during the third quarter. Cornerstone Wealth Management LLC now owns 2,270 shares of the medical research company’s stock worth $732,000 after purchasing an additional 959 shares during the last quarter. Finally, SPC Financial Inc. raised its stake in Amgen by 8.3% during the third quarter. SPC Financial Inc. now owns 2,673 shares of the medical research company’s stock worth $861,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.2 %

Shares of AMGN traded up $0.78 during midday trading on Thursday, hitting $322.41. The company had a trading volume of 447,090 shares, compared to its average volume of 2,446,521. The stock has a market cap of $172.95 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.86 and a beta of 0.61. The company’s 50 day moving average price is $326.15 and its 200 day moving average price is $311.56. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted 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). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period in the prior year, the company posted $5.00 earnings per share. The business’s revenue was up 20.1% on a year-over-year basis. On average, equities research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Robert W. Baird reaffirmed an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and increased their target price for the stock from $320.00 to $333.00 in a research report on Monday. Bank of America lifted their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Dbs Bank raised shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and a consensus target price of $329.48.

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.