Patton Albertson Miller Group LLC Has $1.03 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Patton Albertson Miller Group LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,948 shares of the medical research company’s stock after selling 108 shares during the period. Patton Albertson Miller Group LLC’s holdings in Amgen were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its holdings in shares of Amgen by 38.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,954 shares of the medical research company’s stock valued at $770,000 after purchasing an additional 818 shares during the last quarter. Insight Inv LLC boosted its holdings in shares of Amgen by 5.4% during the 4th quarter. Insight Inv LLC now owns 7,541 shares of the medical research company’s stock worth $1,965,000 after buying an additional 385 shares during the period. Stewardship Advisors LLC grew its stake in Amgen by 14.2% in the 4th quarter. Stewardship Advisors LLC now owns 851 shares of the medical research company’s stock valued at $222,000 after buying an additional 106 shares during the last quarter. Vantage Wealth raised its holdings in Amgen by 0.5% in the 4th quarter. Vantage Wealth now owns 66,801 shares of the medical research company’s stock valued at $17,411,000 after acquiring an additional 352 shares during the period. Finally, GSB Wealth Management LLC lifted its position in Amgen by 5.9% during the fourth quarter. GSB Wealth Management LLC now owns 12,978 shares of the medical research company’s stock worth $3,383,000 after acquiring an additional 721 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Amgen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Truist Financial lowered their price objective on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Redburn Partners lowered their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Finally, UBS Group cut their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.65.

Amgen Price Performance

AMGN stock opened at $275.42 on Friday. The stock has a market cap of $148.05 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company has a 50 day simple moving average of $271.39 and a 200 day simple moving average of $305.99. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the company earned $4.96 EPS. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.46%. Amgen’s dividend payout ratio is 115.24%.

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.