Brophy Wealth Management LLC Takes $1.31 Million Position in Amgen Inc. (NASDAQ:AMGN)

Brophy Wealth Management LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,071 shares of the medical research company's stock, valued at approximately $1,312,000.

Several other large investors have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen during the second quarter worth $26,000. Legacy Investment Solutions LLC purchased a new stake in Amgen during the third quarter worth $29,000. Hershey Financial Advisers LLC purchased a new stake in Amgen during the second quarter worth $30,000. Finally, nVerses Capital LLC purchased a new stake in Amgen during the second quarter worth $31,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.7 %

Shares of AMGN traded down $1.88 during mid-day trading on Tuesday, reaching $275.75. The stock had a trading volume of 2,790,641 shares, compared to its average volume of 2,607,342. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. Amgen Inc. has a 52-week low of $257.80 and a 52-week high of $346.85. The business's fifty day moving average is $305.69 and its 200 day moving average is $315.66. The firm has a market cap of $148.22 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 3.02 and a beta of 0.55.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen's revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.45%. This is a positive change from Amgen's previous quarterly dividend of $2.25. Amgen's dividend payout ratio (DPR) is 115.24%.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. TD Cowen upped their price objective on shares of Amgen from $381.00 to $383.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Jefferies Financial Group restated a "buy" rating and set a $380.00 price objective on shares of Amgen in a research report on Tuesday, November 12th. Leerink Partners reduced their price objective on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $319.68.

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.