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

Patten & Patten Inc. TN raised its stake in Amgen Inc. (NASDAQ:AMGNFree Report) by 4.7% in the 4th quarter, HoldingsChannel reports. The fund owned 2,968 shares of the medical research company’s stock after buying an additional 133 shares during the quarter. Patten & Patten Inc. TN’s holdings in Amgen were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Moneta Group Investment Advisors LLC grew its position in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock worth $1,980,571,000 after buying an additional 7,532,031 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter worth approximately $1,351,778,000. Price T Rowe Associates Inc. MD grew its position in shares of Amgen by 158.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after buying an additional 1,806,456 shares during the period. Morgan Stanley grew its position in shares of Amgen by 12.9% during the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after buying an additional 1,523,665 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Amgen by 164.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,337,970 shares of the medical research company’s stock worth $323,548,000 after buying an additional 832,885 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. Royal Bank of Canada boosted their price objective on shares of Amgen from $303.00 to $329.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $264.00 to $320.00 in a report on Thursday, December 21st. StockNews.com cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley decreased their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $295.30.

Read Our Latest Stock Report on AMGN

Amgen Stock Performance

Shares of AMGN stock opened at $276.21 on Wednesday. The company’s fifty day simple moving average is $288.00 and its 200-day simple moving average is $281.45. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm has a market cap of $148.03 billion, a PE ratio of 22.11, a P/E/G ratio of 2.69 and a beta of 0.58. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business 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 firm’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 earnings per share. Equities research analysts expect that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend 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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