Brookmont Capital Management Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Brookmont Capital Management lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,013 shares of the medical research company’s stock after selling 130 shares during the period. Brookmont Capital Management’s holdings in Amgen were worth $1,567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Pathway Financial Advisers LLC increased its stake in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after purchasing an additional 4,446,757 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Amgen by 561.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,539,733 shares of the medical research company’s stock valued at $496,117,000 after acquiring an additional 1,306,982 shares during the period. Granite Bay Wealth Management LLC lifted its holdings in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after purchasing an additional 748,200 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after purchasing an additional 676,598 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.0 %

Shares of NASDAQ AMGN opened at $272.11 on Tuesday. The business has a fifty day moving average of $273.95 and a two-hundred day moving average of $307.18. 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 Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $146.27 billion, a PE ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period in the previous year, the business posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s payout ratio is currently 121.90%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMGN. Wolfe Research initiated coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Bank of America reiterated an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Piper Sandler dropped their target price on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Citigroup lowered their price target on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.91.

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.