Patton Albertson Miller Group LLC Sells 108 Shares of Amgen Inc. (NASDAQ:AMGN)

Patton Albertson Miller Group LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 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 AMGN. State Street Corp boosted its stake in shares of Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock valued at $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after buying an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Amgen by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock valued at $3,393,718,000 after acquiring an additional 251,876 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Amgen by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after acquiring an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Bank of America restated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a research note on Wednesday, November 27th. Piper Sandler cut their price target on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $314.65.

Amgen Stock Performance

Shares of AMGN opened at $275.42 on Friday. The stock has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a fifty day simple moving average of $271.39 and a 200 day simple moving average of $305.99. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released 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. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.96 earnings per share. Research analysts forecast that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a $2.38 dividend. 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 (DPR) is currently 115.24%.

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.