Brandes Investment Partners LP Purchases Shares of 45,736 Amgen Inc. (AMGN)

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.

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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).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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