Patriot Investment Management Group Inc. Sells 289 Shares of Amgen Inc. (NASDAQ:AMGN)

Patriot Investment Management Group Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 5.4% during the 4th quarter, HoldingsChannel reports. The fund owned 5,016 shares of the medical research company’s stock after selling 289 shares during the period. Patriot Investment Management Group Inc.’s holdings in Amgen were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen in the 3rd quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in Amgen in the 3rd quarter valued at $29,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter valued at $30,000. Matrix Trust Co acquired a new position in shares of Amgen in the 3rd quarter worth approximately $36,000. Finally, Livelsberger Financial Advisory bought a new stake in Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Wolfe Research began coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $277.88 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company’s 50 day moving average price is $271.91 and its two-hundred day moving average price is $306.43. The firm has a market cap of $149.37 billion, a PE ratio of 35.58, a PEG ratio of 2.78 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm 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%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $4.96 EPS. Equities research analysts predict that Amgen Inc. will post 19.56 earnings per share for the current year.

Amgen Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 115.24%.

Amgen 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.