Patriot Investment Management Group Inc. Trims Position in Amgen Inc. (NASDAQ:AMGN)

Patriot Investment Management Group Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,016 shares of the medical research company’s stock after selling 289 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Amgen were worth $1,307,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMGN. Insigneo Advisory Services LLC raised its holdings in Amgen by 31.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,864 shares of the medical research company’s stock valued at $1,257,000 after acquiring an additional 930 shares during the last quarter. APG Asset Management US Inc. grew its holdings in Amgen by 2.2% in the second quarter. APG Asset Management US Inc. now owns 158,539 shares of the medical research company’s stock valued at $49,307,000 after purchasing an additional 3,450 shares during the period. APG Asset Management N.V. increased its position in Amgen by 11.8% during the second quarter. APG Asset Management N.V. now owns 629,733 shares of the medical research company’s stock worth $183,588,000 after purchasing an additional 66,416 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in Amgen during the second quarter worth approximately $3,167,000. Finally, Delta Investment Management LLC boosted its holdings in shares of Amgen by 3.3% in the 2nd quarter. Delta Investment Management LLC now owns 1,903 shares of the medical research company’s stock valued at $595,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Citigroup dropped their price objective on Amgen from $335.00 to $310.00 in a report on Wednesday, November 27th. Royal Bank of Canada reduced their price objective on Amgen from $360.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Piper Sandler reduced their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Truist Financial lowered their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Wolfe Research began coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $314.91.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $277.88 on Friday. The company’s fifty day moving average is $271.91 and its two-hundred day moving average is $306.43. The company has a market cap of $149.37 billion, a P/E ratio of 35.58, a price-to-earnings-growth 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 Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $4.96 earnings per share. Equities analysts expect that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

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