Amgen Inc. $AMGN Shares Purchased by Brooklyn Investment Group

by · The Markets Daily

Brooklyn Investment Group increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,965 shares of the medical research company’s stock after purchasing an additional 1,775 shares during the quarter. Brooklyn Investment Group’s holdings in Amgen were worth $1,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Pinney & Scofield Inc. acquired a new stake in Amgen in the 4th quarter valued at approximately $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Amgen during the 4th quarter worth about $36,000. South Plains Financial Inc. acquired a new position in Amgen during the 4th quarter worth about $37,000. Finally, Global Wealth Strategies & Associates increased its stake in Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company’s stock worth $42,000 after purchasing an additional 125 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 2.1%

AMGN opened at $296.47 on Monday. The firm has a market cap of $159.61 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The business’s 50 day moving average is $293.30 and its two-hundred day moving average is $293.10. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $339.17.

Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the previous year, the company posted $4.97 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. Citigroup upped their target price on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Bank of America upped their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $303.76.

Get Our Latest Stock Report on Amgen

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

Amgen Company Profile

(Free Report)

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.

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