Brookstone Capital Management Buys 61 Shares of Amgen Inc. (AMGN)
Brookstone Capital Management raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,559 shares of the medical research company’s stock after purchasing an additional 61 shares during the period. Brookstone Capital Management’s holdings in Amgen were worth $785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of AMGN. Cypress Capital Management LLC raised its position in Amgen by 49.7% during the first quarter. Cypress Capital Management LLC now owns 3,360 shares of the medical research company’s stock valued at $551,000 after purchasing an additional 1,115 shares during the period. Rhumbline Advisers raised its position in Amgen by 1.4% during the first quarter. Rhumbline Advisers now owns 1,314,521 shares of the medical research company’s stock valued at $215,673,000 after purchasing an additional 18,213 shares during the period. MCF Advisors LLC raised its position in Amgen by 53.3% during the first quarter. MCF Advisors LLC now owns 1,649 shares of the medical research company’s stock valued at $271,000 after purchasing an additional 573 shares during the period. Greatmark Investment Partners Inc. purchased a new stake in Amgen during the first quarter valued at approximately $217,000. Finally, Flinton Capital Management LLC raised its position in Amgen by 22.4% during the first quarter. Flinton Capital Management LLC now owns 53,550 shares of the medical research company’s stock valued at $8,786,000 after purchasing an additional 9,792 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.
A number of equities research analysts have issued reports on AMGN shares. BMO Capital Markets restated a “market perform” rating and set a $198.00 price objective on shares of Amgen in a research report on Thursday, October 26th. Cann restated a “buy” rating on shares of Amgen in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $203.00 price objective on shares of Amgen in a research report on Thursday, September 7th. Mizuho restated a “buy” rating and set a $198.00 price objective (up from $183.00) on shares of Amgen in a research report on Thursday, September 28th. Finally, Zacks Investment Research downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Amgen has a consensus rating of “Buy” and an average price target of $190.03.
Shares of Amgen Inc. (AMGN) opened at $172.35 on Monday. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $125,110.70, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. Amgen Inc. has a 52-week low of $138.83 and a 52-week high of $191.10.
Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.16. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $3.02 EPS. equities research analysts forecast that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
Amgen announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.67%. Amgen’s dividend payout ratio (DPR) is presently 41.63%.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
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Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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