Brookwood Investment Group LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Brookwood Investment Group LLC has made a new investment in Amgen Inc., acquiring 1,298 shares valued at approximately $404,000.
• Amgen reported $4.90 earnings per share in its latest quarter, surpassing analysts' expectations of $4.18, along with a revenue of $8.15 billion, which is an increase of 9.4% year-over-year.
• Institutional investors hold approximately 76.50% of Amgen's stock, indicating strong institutional support for the company.

Brookwood Investment Group LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,298 shares of the medical research company's stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Pinney & Scofield Inc. bought a new position in Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Amgen during the 4th quarter worth $36,000. Finally, Legacy Investment Solutions LLC lifted its position in shares of Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

AMGN stock opened at $306.58 on Friday. The firm has a market cap of $164.85 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a 50-day moving average price of $289.39 and a 200-day moving average price of $290.70. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 earnings per share. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Citigroup raised their target price on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $307.27.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen 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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