Amgen Inc. (NASDAQ:AMGN) Shares Bought by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,382 shares of the medical research company’s stock after purchasing an additional 67 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Amgen were worth $1,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Capital Performance Advisors LLP bought a new stake in shares of Amgen during the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen during the third quarter worth approximately $29,000. Matrix Trust Co acquired a new stake in Amgen in the third quarter worth approximately $36,000. Livelsberger Financial Advisory acquired a new stake in Amgen in the third quarter worth approximately $56,000. Finally, Icon Wealth Advisors LLC boosted its stake in Amgen by 3,955.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 169,748 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Citigroup reduced their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wolfe Research started coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and an average target price of $314.00.

Amgen Trading Down 0.9 %

NASDAQ AMGN opened at $280.30 on Wednesday. The company has a market capitalization of $150.67 billion, a PE ratio of 35.89, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s fifty day simple moving average is $271.47 and its 200-day simple moving average is $305.51.

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

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.40%. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

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.