Brooklyn Investment Group Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Brooklyn Investment Group lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,190 shares of the medical research company’s stock after selling 187 shares during the quarter. Brooklyn Investment Group’s holdings in Amgen were worth $831,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $25,000. Hershey Financial Advisers LLC purchased a new stake in Amgen in the 2nd quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in Amgen in the 3rd quarter valued at $29,000. Matrix Trust Co acquired a new position in Amgen in the 3rd quarter valued at $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen in the 3rd quarter valued at $56,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

AMGN opened at $272.11 on Friday. The firm has a 50 day moving average price of $275.01 and a 200 day moving average price of $307.49. The company has a market cap of $146.27 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 EPS. Sell-side analysts expect that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be given a $2.38 dividend. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a yield of 3.50%. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMGN shares. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Bank of America reaffirmed an “underperform” rating and set a $256.00 price target on shares of Amgen in a research note on Tuesday, December 10th. Redburn Partners lowered their price target on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Truist Financial lowered their price target on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.