Brookstone Capital Management Acquires 16,042 Shares of Amgen Inc. $AMGN

Brookstone Capital Management increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 29.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,311 shares of the medical research company’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Fairvoy Private Wealth LLC lifted its stake in shares of Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after acquiring an additional 35 shares during the last quarter. Nicholson Wealth Management Group LLC increased its stake in Amgen by 0.6% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock worth $1,652,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. lifted its position in Amgen by 3.2% in the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock valued at $320,000 after purchasing an additional 36 shares during the last quarter. Maryland Capital Advisors Inc. boosted its stake in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 36 shares during the period. Finally, Lion Street Advisors LLC boosted its stake in shares of Amgen by 1.3% during the second quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after purchasing an additional 36 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This trade represents a 30.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,908 shares of company stock worth $3,674,966 in the last three months. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of AMGN opened at $332.50 on Thursday. The company 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 debt-to-equity ratio of 5.45, a current ratio of 1.28 and a quick ratio of 0.99. The firm has a market capitalization of $179.04 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 3.08 and a beta of 0.45. Amgen Inc. has a one year low of $257.05 and a one year high of $346.38.

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

Amgen Increases Dividend

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

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Morgan Stanley decreased their target price on shares of Amgen from $329.00 to $304.00 and set an “equal weight” rating on the stock in a research note on Friday, December 12th. DZ Bank upped their price objective on shares of Amgen from $335.00 to $364.00 in a research note on Monday, November 10th. Raymond James Financial began coverage on shares of Amgen in a report on Wednesday, September 3rd. They set a “market perform” rating for the company. BMO Capital Markets boosted their price target on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Finally, Piper Sandler upped their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $332.85.

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.