Patron Partners LLC Has $2.97 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Patron Partners LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,216 shares of the medical research company’s stock after selling 111 shares during the period. Amgen accounts for about 1.6% of Patron Partners LLC’s portfolio, making the stock its 11th largest holding. Patron Partners LLC’s holdings in Amgen were worth $2,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the third quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new stake in Amgen during the second quarter worth approximately $26,000. Hershey Financial Advisers LLC acquired a new stake in Amgen during the second quarter worth approximately $30,000. nVerses Capital LLC acquired a new stake in Amgen during the second quarter worth approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Amgen during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America increased their price target on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Barclays upped their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, TD Cowen upped their target price on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Down 1.1 %

Shares of AMGN opened at $321.81 on Tuesday. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The stock has a market capitalization of $172.98 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.90 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The stock has a fifty day moving average of $323.37 and a 200-day moving average of $318.07.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The business 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%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $4.96 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.80%. Amgen’s payout ratio is 115.24%.

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.