Brandes Investment Partners LP purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 45,736 shares of the medical research company’s stock, valued at approximately $7,877,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. TrimTabs Asset Management LLC increased its position in shares of Amgen by 88.9% during the first quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Amgen during the first quarter worth approximately $106,000. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of Amgen during the first quarter worth approximately $121,000. Grove Bank & Trust increased its position in shares of Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares in the last quarter. Finally, Enterprise Financial Services Corp increased its position in shares of Amgen by 18.0% during the second quarter. Enterprise Financial Services Corp now owns 748 shares of the medical research company’s stock worth $129,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 78.15% of the company’s stock.
In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock worth $1,239,673 in the last ninety days. 0.19% of the stock is owned by corporate insiders.
Shares of Amgen Inc. (NASDAQ AMGN) opened at $168.79 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. The stock has a market capitalization of $122,530.00, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.46 and a beta of 1.37. Amgen Inc. has a 12-month low of $138.83 and a 12-month high of $191.10.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. Amgen’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $3.02 EPS. equities research analysts expect that Amgen Inc. will post 12.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s dividend payout ratio is currently 41.55%.
Amgen announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
AMGN has been the subject of several analyst reports. Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a report on Friday, October 27th. Bank of America Corporation upped their target price on Amgen to $210.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays PLC upped their target price on Amgen from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 13th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Finally, Royal Bank Of Canada initiated coverage on Amgen in a report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Amgen currently has an average rating of “Buy” and an average target price of $190.03.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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