Brookmont Capital Management Has $1.57 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Brookmont Capital Management trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.1% in the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its position in Amgen by 2.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 76,607 shares of the medical research company’s stock worth $19,967,000 after purchasing an additional 1,966 shares during the period. Royal Fund Management LLC grew its position in shares of Amgen by 32.7% during the 4th quarter. Royal Fund Management LLC now owns 20,077 shares of the medical research company’s stock worth $5,346,000 after buying an additional 4,942 shares during the period. Mitchell & Pahl Private Wealth LLC grew its position in shares of Amgen by 13.0% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 5,879 shares of the medical research company’s stock worth $1,532,000 after buying an additional 676 shares during the period. Ballentine Partners LLC grew its position in shares of Amgen by 1.5% during the 4th quarter. Ballentine Partners LLC now owns 14,097 shares of the medical research company’s stock worth $3,674,000 after buying an additional 202 shares during the period. Finally, Pure Financial Advisors LLC grew its position in shares of Amgen by 4.2% during the 4th quarter. Pure Financial Advisors LLC now owns 3,503 shares of the medical research company’s stock worth $913,000 after buying an additional 142 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 1.0 %

Shares of Amgen stock opened at $272.11 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market cap of $146.27 billion, a P/E ratio of 34.84, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The business’s 50 day moving average is $273.95 and its 200-day moving average is $307.18.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share 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 for the quarter, compared to analysts’ expectations of $8.50 billion. During the same quarter in the prior year, the business earned $4.96 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that Amgen Inc. will post 19.57 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 yield of 3.50%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 121.90%.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. Redburn Partners decreased their target price on Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Citigroup decreased their target price on Amgen from $335.00 to $310.00 in a research report on Wednesday, November 27th. Barclays boosted their target price on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $314.91.

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.