Brookmont Capital Management Trims Stake in Amgen Inc. $AMGN

Brookmont Capital Management reduced its position in Amgen Inc. (NASDAQ:AMGN) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,720 shares of the medical research company’s stock after selling 58 shares during the quarter. Amgen accounts for approximately 0.9% of Brookmont Capital Management’s holdings, making the stock its 29th biggest holding. Brookmont Capital Management’s holdings in Amgen were worth $1,597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new stake in Amgen in the 1st quarter worth about $25,000. First Pacific Financial increased its position in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the period. CBIZ Investment Advisory Services LLC increased its position in shares of Amgen by 1,214.3% during the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after acquiring an additional 85 shares during the period. Activest Wealth Management increased its position in shares of Amgen by 3,433.3% during the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock worth $33,000 after acquiring an additional 103 shares during the period. Finally, Nova Wealth Management Inc. increased its position in shares of Amgen by 12,200.0% during the first quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock worth $38,000 after acquiring an additional 122 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 5.8%

NASDAQ:AMGN opened at $298.50 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The firm has a fifty day simple moving average of $287.74 and a 200-day simple moving average of $288.64. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $160.70 billion, a P/E ratio of 24.41, a PEG ratio of 2.45 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the company posted $4.97 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is 77.84%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMGN has been the topic of a number of research reports. Citigroup raised their target price on shares of Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Raymond James Financial initiated coverage on shares of Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Piper Sandler raised their target price on shares of Amgen from $328.00 to $342.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $309.70.

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.