Tallon Kerry Patrick Buys New Holdings in Amgen Inc. (NASDAQ:AMGN)

Tallon Kerry Patrick purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,041 shares of the medical research company’s stock, valued at approximately $270,000.

Other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its holdings in shares of Amgen by 33,125.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after acquiring an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after purchasing an additional 2,486,882 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock worth $496,117,000 after purchasing an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC increased its holdings in shares of Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock valued at $223,897,000 after purchasing an additional 748,200 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. Wells Fargo & Company lowered their price target on shares of Amgen from $335.00 to $280.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Bank of America restated an “underperform” rating and issued a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, UBS Group dropped their target price on Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $314.91.

Amgen Stock Up 0.2 %

AMGN stock opened at $269.43 on Friday. The stock has a market capitalization of $144.83 billion, a P/E ratio of 34.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company has a current ratio of 1.32, a quick ratio of 0.96 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. The firm has a 50-day moving average price of $276.06 and a 200-day moving average price of $307.76.

Amgen (NASDAQ:AMGN) last posted its earnings results 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 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 business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 earnings per share. As a group, equities research analysts anticipate that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 115.24%.

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.