Brooklyn Investment Group Acquires 38 Shares of Amgen Inc. (NASDAQ:AMGN)

Brooklyn Investment Group lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,377 shares of the medical research company’s stock after buying an additional 38 shares during the quarter. Brooklyn Investment Group’s holdings in Amgen were worth $1,088,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in Amgen during the 3rd quarter valued at about $25,000. Hershey Financial Advisers LLC purchased a new position in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC bought a new stake in Amgen during the 2nd quarter worth approximately $31,000. Bbjs Financial Advisors LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $33,000. Finally, Matrix Trust Co bought a new position in Amgen in the 3rd quarter valued at $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Down 0.2 %

Shares of AMGN opened at $294.00 on Tuesday. The firm has a fifty day simple moving average of $315.69 and a two-hundred day simple moving average of $318.05. Amgen Inc. has a twelve month low of $260.68 and a twelve month high of $346.85. The stock has a market capitalization of $158.03 billion, a P/E ratio of 37.64, a PEG ratio of 2.63 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

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 the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $4.96 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 19.52 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.06%. Amgen’s dividend payout ratio is presently 115.24%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMGN. StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. TD Cowen raised their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Citigroup initiated coverage on shares of Amgen in a research report on Thursday, November 14th. They issued a “neutral” rating and a $335.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Finally, Barclays increased their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $333.57.

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.