Brooklyn Investment Group Buys 1,775 Shares of Amgen Inc. $AMGN

Key Points

• Broklyn Investment Group boosted its stake in Amgen Inc. by 55.6%, acquiring an additional 1,775 shares, bringing its total to 4,965 shares valued at approximately $1.54 million.
• Amgen reported a quarterly earnings of $6.02 EPS, exceeding analysts' estimates, along with a year-over-year revenue increase of 9.4% to $9.18 billion.
• The company announced a quarterly dividend of $2.38 per share, representing an annualized dividend of $9.52 with a yield of 3.2%.

Brooklyn Investment Group increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,965 shares of the medical research company's stock after buying an additional 1,775 shares during the quarter. Brooklyn Investment Group's holdings in Amgen were worth $1,547,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMGN. First Pacific Financial lifted its position in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the fourth quarter worth $26,000. Global Wealth Strategies & Associates lifted its position in shares of 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 last quarter. Heck Capital Advisors LLC bought a new stake in shares of Amgen during the fourth quarter worth $36,000. Finally, South Plains Financial Inc. bought a new stake in shares of Amgen during the fourth quarter worth $37,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 2.1%

Shares of AMGN opened at $296.47 on Monday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The stock has a market capitalization of $159.61 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.55 and a beta of 0.49. The stock has a 50 day moving average price of $293.30 and a 200 day moving average price of $293.10.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same period in the previous year, the business earned $4.97 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMGN. Bank of America lifted their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Citigroup lifted their target price on Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, UBS Group decreased their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $303.76.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's 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 directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

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.

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