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

Patron Partners LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,216 shares of the medical research company’s stock after selling 111 shares during the period. Amgen makes up approximately 1.6% of Patron Partners LLC’s investment portfolio, making the stock its 11th largest holding. Patron Partners LLC’s holdings in Amgen were worth $2,969,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in Amgen during the third quarter worth about $25,000. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter worth about $26,000. Hershey Financial Advisers LLC bought a new position in Amgen during the second quarter worth about $30,000. nVerses Capital LLC bought a new position in Amgen during the second quarter worth about $31,000. Finally, Bbjs Financial Advisors LLC bought a new stake in shares of Amgen in the second quarter valued at about $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $321.81 on Tuesday. The business’s 50 day moving average price is $323.37 and its two-hundred day moving average price is $318.07. The company has a market cap of $172.98 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.90 and a beta of 0.60. 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 twelve month low of $260.52 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 the consensus estimate of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 earnings per share. On average, analysts predict that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Robert W. Baird restated an “underperform” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, September 25th. Jefferies Financial Group restated a “buy” rating and issued a $380.00 price target (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Finally, TD Cowen boosted their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $333.50.

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.