Hollow Brook Wealth Management LLC Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hollow Brook Wealth Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 11.2% during the third quarter, HoldingsChannel reports. The fund owned 1,312 shares of the medical research company’s stock after purchasing an additional 132 shares during the quarter. Hollow Brook Wealth Management LLC’s holdings in Amgen were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AMGN. Garden State Investment Advisory Services LLC raised its stake in shares of Amgen by 8.3% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 806 shares of the medical research company’s stock valued at $260,000 after purchasing an additional 62 shares during the period. Coastwise Capital Group LLC increased its position in shares of Amgen by 4.9% during the third quarter. Coastwise Capital Group LLC now owns 2,247 shares of the medical research company’s stock valued at $724,000 after buying an additional 105 shares during the period. Ascent Group LLC lifted its holdings in shares of Amgen by 5.1% in the third quarter. Ascent Group LLC now owns 11,512 shares of the medical research company’s stock worth $3,709,000 after buying an additional 563 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its position in shares of Amgen by 1.8% in the third quarter. Beacon Investment Advisory Services Inc. now owns 42,439 shares of the medical research company’s stock valued at $13,674,000 after acquiring an additional 746 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Amgen by 682.0% during the third quarter. Benjamin Edwards Inc. now owns 50,663 shares of the medical research company’s stock valued at $16,340,000 after acquiring an additional 44,184 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AMGN shares. TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. Citigroup decreased their target price on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $323.05.

Amgen Stock Up 1.0 %

Shares of NASDAQ:AMGN opened at $282.87 on Monday. The company has a market cap of $152.05 billion, a PE ratio of 36.22, a P/E/G ratio of 2.52 and a beta of 0.60. Amgen Inc. has a 1 year low of $257.80 and a 1 year high of $346.85. The stock’s 50-day moving average is $311.37 and its 200 day moving average is $317.16. 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 (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. During the same period last year, the company posted $4.96 EPS. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.51 EPS for the current year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $9.00 annualized dividend and a dividend yield of 3.18%. Amgen’s payout ratio is currently 115.24%.

Amgen 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.