Brookstone Capital Management Increases Stock Position in Amgen Inc. $AMGN

Brookstone Capital Management lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 55,269 shares of the medical research company's stock after purchasing an additional 5,517 shares during the period. Brookstone Capital Management's holdings in Amgen were worth $15,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Amgen by 0.3% during the first quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company's stock valued at $16,471,790,000 after acquiring an additional 148,658 shares during the last quarter. Royal Bank of Canada lifted its position in Amgen by 6.0% during the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company's stock valued at $1,521,339,000 after acquiring an additional 274,488 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Amgen by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company's stock valued at $1,387,695,000 after acquiring an additional 243,306 shares during the last quarter. Deutsche Bank AG increased its stake in Amgen by 1.6% during the 1st quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company's stock valued at $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Amgen by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,020,545 shares of the medical research company's stock valued at $940,989,000 after purchasing an additional 22,820 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.7%

NASDAQ:AMGN opened at $301.14 on Wednesday. The firm has a market capitalization of $162.12 billion, a P/E ratio of 24.62, a PEG ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $335.88. The company's fifty day moving average price is $287.83 and its 200-day moving average price is $287.15. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.97 earnings per share. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen's dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMGN shares. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a research note on Friday, September 26th. Raymond James Financial started coverage on shares of Amgen in a research note on Wednesday, September 3rd. They set a "market perform" rating on the stock. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler upped their price target on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Citigroup increased their price objective on shares of Amgen from $310.00 to $315.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Amgen presently has a consensus rating of "Hold" and an average target price of $300.94.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the transaction, the senior vice president directly owned 7,209 shares of the company's stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Company 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.

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