Patten & Patten Inc. TN Acquires 65 Shares of Amgen Inc. (NASDAQ:AMGN)

Patten & Patten Inc. TN increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,012 shares of the medical research company’s stock after purchasing an additional 65 shares during the quarter. Patten & Patten Inc. TN’s holdings in Amgen were worth $785,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Gitterman Wealth Management LLC bought a new stake in Amgen during the 4th quarter worth approximately $228,000. Centurion Wealth Management LLC grew its stake in shares of Amgen by 6.5% during the 4th quarter. Centurion Wealth Management LLC now owns 2,663 shares of the medical research company’s stock worth $694,000 after acquiring an additional 163 shares in the last quarter. Diversified Enterprises LLC grew its stake in shares of Amgen by 12.4% during the 4th quarter. Diversified Enterprises LLC now owns 1,007 shares of the medical research company’s stock worth $263,000 after acquiring an additional 111 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Amgen by 13.5% during the 4th quarter. Clearstead Trust LLC now owns 1,094 shares of the medical research company’s stock worth $285,000 after acquiring an additional 130 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of Amgen during the 4th quarter worth approximately $750,000. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,341 shares of company stock worth $20,644,335. Company insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.3 %

AMGN opened at $313.71 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $168.53 billion, a P/E ratio of 41.55, a P/E/G ratio of 2.63 and a beta of 0.53. The stock has a fifty day moving average of $291.82 and a 200-day moving average of $299.12.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is currently 126.09%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Truist Financial decreased their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. UBS Group reissued a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Finally, Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $314.04.

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.