Bruderman Asset Management LLC Takes Position in Amgen, Inc. (AMGN)

Bruderman Asset Management LLC acquired a new stake in Amgen, Inc. (NASDAQ:AMGN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,017 shares of the medical research company’s stock, valued at approximately $1,209,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PGGM Investments boosted its stake in shares of Amgen by 2.3% during the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock worth $115,555,000 after buying an additional 15,059 shares during the period. Shelton Capital Management boosted its stake in shares of Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after buying an additional 49,354 shares during the period. Greylin Investment Mangement Inc. boosted its stake in shares of Amgen by 466.9% during the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after buying an additional 11,555 shares during the period. Kelman Lazarov Inc. boosted its stake in shares of Amgen by 8.2% during the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after buying an additional 120 shares during the period. Finally, Osborne Partners Capital Management LLC boosted its stake in shares of Amgen by 0.5% during the second quarter. Osborne Partners Capital Management LLC now owns 17,023 shares of the medical research company’s stock worth $2,932,000 after buying an additional 91 shares during the period. Institutional investors own 78.38% of the company’s stock.

In other news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total transaction of $261,659.50. Following the transaction, the executive vice president now directly owns 57,631 shares of the company’s stock, valued at $9,888,326.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,050 shares of company stock valued at $1,239,673. Corporate insiders own 0.19% of the company’s stock.

AMGN has been the subject of several recent research reports. BMO Capital Markets reiterated a “market perform” rating and set a $198.00 target price on shares of Amgen in a research note on Thursday, October 26th. Cann reiterated a “buy” rating on shares of Amgen in a research note on Monday, August 28th. Oppenheimer reiterated a “buy” rating and set a $203.00 target price on shares of Amgen in a research note on Thursday, September 7th. Mizuho reiterated a “buy” rating and set a $198.00 target price (up previously from $183.00) on shares of Amgen in a research note on Thursday, September 28th. Finally, Zacks Investment Research downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $190.22.

Amgen, Inc. (AMGN) opened at $176.22 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07. Amgen, Inc. has a 12 month low of $138.83 and a 12 month high of $191.10. The firm has a market cap of $129,712.96, a P/E ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same period last year, the company posted $3.02 EPS. The company’s revenue was down .7% on a year-over-year basis. research analysts predict that Amgen, Inc. will post 12.66 earnings per share for the current year.

Amgen announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.61%. Amgen’s dividend payout ratio (DPR) is 41.63%.

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Amgen 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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