Brooktree Capital Management Buys New Position in Amgen Inc. $AMGN

Brooktree Capital Management purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the medical research company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also modified their holdings of AMGN. OLD National Bancorp IN lifted its holdings in Amgen by 296.2% during the second quarter. OLD National Bancorp IN now owns 18,004 shares of the medical research company’s stock valued at $5,027,000 after purchasing an additional 13,460 shares in the last quarter. Trinity Legacy Partners LLC raised its position in shares of Amgen by 3.9% during the 1st quarter. Trinity Legacy Partners LLC now owns 16,132 shares of the medical research company’s stock valued at $5,026,000 after purchasing an additional 612 shares during the period. Founders Financial Alliance LLC raised its position in shares of Amgen by 2.7% during the 1st quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the period. Stephens Inc. AR raised its position in shares of Amgen by 14.2% during the 2nd quarter. Stephens Inc. AR now owns 95,731 shares of the medical research company’s stock valued at $26,729,000 after purchasing an additional 11,888 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Amgen by 2.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,397 shares of the medical research company’s stock valued at $86,423,000 after purchasing an additional 7,308 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMGN shares. Raymond James Financial started coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Wells Fargo & Company upped their price objective on Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Morgan Stanley reduced their price objective on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $307.33.

Amgen Trading Up 7.8%

AMGN stock opened at $319.86 on Thursday. The firm has a fifty day moving average price of $288.69 and a 200 day moving average price of $287.99. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $172.20 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 EPS for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. During the same quarter last year, the business earned $5.58 earnings per share. Amgen’s quarterly 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. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s payout ratio is presently 73.57%.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by insiders.

About Amgen

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.