Patron Partners LLC Sells 153 Shares of Amgen Inc. (NASDAQ:AMGN)

Patron Partners LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,063 shares of the medical research company’s stock after selling 153 shares during the quarter. Amgen accounts for 1.3% of Patron Partners LLC’s portfolio, making the stock its 16th largest position. Patron Partners LLC’s holdings in Amgen were worth $2,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Columbus Macro LLC boosted its holdings in shares of Amgen by 402.3% in the 4th quarter. Columbus Macro LLC now owns 19,188 shares of the medical research company’s stock valued at $5,001,000 after buying an additional 15,368 shares during the last quarter. GEN Financial Management INC. acquired a new stake in Amgen during the 4th quarter worth approximately $652,000. Fourpath Capital Management LLC lifted its holdings in shares of Amgen by 29.3% during the fourth quarter. Fourpath Capital Management LLC now owns 2,997 shares of the medical research company’s stock worth $781,000 after buying an additional 679 shares in the last quarter. Optas LLC increased its stake in shares of Amgen by 15.6% in the 4th quarter. Optas LLC now owns 1,180 shares of the medical research company’s stock valued at $308,000 after purchasing an additional 159 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its holdings in shares of Amgen by 18.8% during the 4th quarter. Hodges Capital Management Inc. now owns 18,621 shares of the medical research company’s stock worth $4,853,000 after buying an additional 2,949 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock opened at $288.87 on Tuesday. The company has a fifty day simple moving average of $271.06 and a two-hundred day simple moving average of $304.11. 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 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $155.28 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56.

Amgen Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a dividend of $2.38 per share. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.30%. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMGN. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Wells Fargo & Company lowered their price target 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. Deutsche Bank Aktiengesellschaft lowered their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Barclays upped their price objective on Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Piper Sandler reduced their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Two equities 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’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $314.00.

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.