Tallon Kerry Patrick Makes New $270,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Tallon Kerry Patrick acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,041 shares of the medical research company's stock, valued at approximately $270,000.

A number of other hedge funds have also modified their holdings of AMGN. Pathway Financial Advisers LLC grew its position in 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 purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company's stock worth $8,130,610,000 after buying an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of 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 buying an additional 1,306,982 shares during the last quarter. Granite Bay Wealth Management LLC increased its position in Amgen by 9,058.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company's stock valued at $223,897,000 after acquiring an additional 748,200 shares during the period. Finally, Nordea Investment Management AB lifted its position in Amgen by 40.7% during the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company's stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock traded up $2.68 during trading on Friday, hitting $272.11. The stock had a trading volume of 3,244,015 shares, compared to its average volume of 3,118,001. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market cap of $146.27 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. The company's 50 day moving average price is $275.01 and its two-hundred day moving average price is $307.49. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. On average, sell-side analysts forecast that Amgen Inc. will post 19.57 EPS for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, February 14th. This is an increase from Amgen's previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a yield of 3.50%. Amgen's dividend payout ratio is 115.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMGN shares. StockNews.com downgraded Amgen from a "strong-buy" rating to a "buy" rating in a report on Wednesday, December 18th. Bank of America restated an "underperform" rating and issued a $256.00 target price on shares of Amgen in a research note on Tuesday, December 10th. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, November 12th. Wells Fargo & Company reduced their price objective on shares of Amgen from $335.00 to $280.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $314.91.

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.