Brookstone Capital Management Grows Stake in Amgen Inc. $AMGN

Brookstone Capital Management lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 29.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 71,311 shares of the medical research company’s stock after buying an additional 16,042 shares during the quarter. Brookstone Capital Management’s holdings in Amgen were worth $20,124,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMGN. Wealth Preservation Advisors LLC bought a new stake in Amgen during the 1st quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Amgen during the second quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Evelyn Partners Investment Management LLP purchased a new position in Amgen in the 2nd quarter worth approximately $32,000. Finally, Howard Hughes Medical Institute purchased a new position in Amgen in the 2nd quarter worth approximately $32,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. BMO Capital Markets lifted their price objective on Amgen from $335.00 to $372.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Truist Financial started coverage on Amgen in a research report on Monday, November 24th. They issued a “hold” rating and a $318.00 target price for the company. Piper Sandler raised their price target on shares of Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Cantor Fitzgerald lifted their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $332.85.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 890 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at approximately $2,381,251.68. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the sale, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,908 shares of company stock valued at $3,674,966 in the last 90 days. Company insiders own 0.76% of the company’s stock.

Amgen Trading Up 0.3%

Amgen stock opened at $332.50 on Thursday. The business has a 50-day simple moving average of $321.56 and a two-hundred day simple moving average of $301.12. The company has a market cap of $179.04 billion, a P/E ratio of 25.70, a P/E/G ratio of 3.08 and a beta of 0.45. Amgen Inc. has a 52-week low of $257.05 and a 52-week high of $346.38. The company has a quick ratio of 0.99, a current ratio of 1.28 and a debt-to-equity ratio of 5.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping the consensus estimate of $5.01 by $0.63. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a dividend of $2.52 per share. The ex-dividend date is Friday, February 13th. This represents a $10.08 annualized dividend and a dividend yield of 3.0%. This is a boost from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is 73.57%.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.