Patton Albertson Miller Group LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Patton Albertson Miller Group LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,128 shares of the medical research company’s stock after purchasing an additional 155 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Amgen were worth $1,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. OFI Invest Asset Management purchased a new stake in shares of Amgen during the third quarter worth about $26,000. Briaud Financial Planning Inc acquired a new position in Amgen during the 3rd quarter valued at approximately $26,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen in the fourth quarter worth $29,000. Providence Capital Advisors LLC acquired a new stake in shares of Amgen during the third quarter worth $30,000. Finally, Planned Solutions Inc. acquired a new position in shares of Amgen in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $5.55 during midday trading on Thursday, hitting $312.86. The stock had a trading volume of 2,920,928 shares, compared to its average volume of 2,909,855. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a market capitalization of $167.83 billion, a PE ratio of 44.69, a P/E/G ratio of 3.00 and a beta of 0.60. The stock has a 50 day simple moving average of $276.24 and a 200-day simple moving average of $281.92.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 EPS. On average, sell-side analysts expect that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 128.57%.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AMGN shares. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group boosted their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.65.

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.