Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Patten & Patten Inc. TN

Patten & Patten Inc. TN lifted its position in Amgen Inc. (NASDAQ:AMGN) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,213 shares of the medical research company’s stock after acquiring an additional 201 shares during the quarter. Patten & Patten Inc. TN’s holdings in Amgen were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after purchasing an additional 352,143 shares in the last quarter. Capital International Investors increased its stake in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Capital World Investors increased its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Northern Trust Corp raised its position in shares of Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after buying an additional 875,254 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Amgen by 15.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock worth $1,336,647,000 after acquiring an additional 685,785 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMGN shares. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. UBS Group lifted their price target on Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $307.27.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

AMGN stock opened at $301.29 on Tuesday. Amgen Inc. has a one year low of $253.30 and a one year high of $340.89. The firm has a 50-day moving average of $289.90 and a two-hundred day moving average of $291.34. The firm has a market capitalization of $162.01 billion, a PE ratio of 27.49, a P/E/G ratio of 2.65 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

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.