Brookstone Capital Management Buys 12,570 Shares of Amgen Inc. (NASDAQ:AMGN)

Brookstone Capital Management grew its holdings in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 39.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,038 shares of the medical research company’s stock after buying an additional 12,570 shares during the quarter. Brookstone Capital Management’s holdings in Amgen were worth $10,943,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AIA Group Ltd grew its holdings in shares of Amgen by 40.4% during the first quarter. AIA Group Ltd now owns 2,938 shares of the medical research company’s stock valued at $710,000 after buying an additional 845 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC boosted its holdings in Amgen by 905.2% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,156 shares of the medical research company’s stock worth $280,000 after purchasing an additional 1,041 shares during the last quarter. IndexIQ Advisors LLC boosted its holdings in Amgen by 2.3% during the first quarter. IndexIQ Advisors LLC now owns 10,095 shares of the medical research company’s stock worth $2,441,000 after purchasing an additional 225 shares during the last quarter. Quilter Plc boosted its holdings in Amgen by 3.0% during the first quarter. Quilter Plc now owns 5,158 shares of the medical research company’s stock worth $1,248,000 after purchasing an additional 150 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Amgen by 16.7% during the first quarter. Lindbrook Capital LLC now owns 2,358 shares of the medical research company’s stock worth $570,000 after purchasing an additional 337 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN opened at $231.14 on Monday. The company’s 50 day moving average is $244.94 and its 200-day moving average is $243.58. Amgen Inc. has a 12-month low of $198.64 and a 12-month high of $258.45. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 14.76. The firm has a market cap of $123.64 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.56.

Amgen (NASDAQ:AMGNGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The company had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the firm posted $4.38 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 17.45 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were issued a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, August 17th. Amgen’s dividend payout ratio (DPR) is presently 65.76%.

Insider Buying and Selling

In related news, Director R Sanders Williams sold 200 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the sale, the director now owns 5,301 shares of the company’s stock, valued at approximately $1,325,037.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amgen news, Director R Sanders Williams sold 200 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the transaction, the director now owns 5,301 shares of the company’s stock, valued at approximately $1,325,037.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Eckert sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the transaction, the director now directly owns 21,184 shares of the company’s stock, valued at approximately $5,274,816. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Atlantic Securities cut their price target on shares of Amgen from $190.00 to $182.00 and set an “underweight” rating on the stock in a report on Tuesday, August 9th. Robert W. Baird restated an “underperform” rating and set a $185.00 price target on shares of Amgen in a report on Tuesday, September 13th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Monday, August 8th. TheStreet upgraded shares of Amgen from a “c+” rating to a “b” rating in a report on Monday, August 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $290.00 target price on shares of Amgen in a research note on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $241.13.

Amgen Profile

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

Further Reading

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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