Armbruster Capital Management Inc. Increases Holdings in Amgen Inc. (AMGN)

Armbruster Capital Management Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,894 shares of the medical research company’s stock after buying an additional 554 shares during the quarter. Amgen accounts for approximately 0.4% of Armbruster Capital Management Inc.’s holdings, making the stock its 29th biggest holding. Armbruster Capital Management Inc.’s holdings in Amgen were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Baxter Bros Inc. lifted its holdings in Amgen by 8.1% in the 2nd quarter. Baxter Bros Inc. now owns 3,729 shares of the medical research company’s stock worth $642,000 after buying an additional 280 shares in the last quarter. Lakeview Capital Partners LLC lifted its holdings in Amgen by 0.5% in the 2nd quarter. Lakeview Capital Partners LLC now owns 4,642 shares of the medical research company’s stock worth $799,000 after buying an additional 23 shares in the last quarter. Advisor Partners LLC increased its position in shares of Amgen by 1.9% in the 2nd quarter. Advisor Partners LLC now owns 12,609 shares of the medical research company’s stock worth $2,172,000 after purchasing an additional 233 shares during the last quarter. Tdam USA Inc. increased its position in shares of Amgen by 0.8% in the 2nd quarter. Tdam USA Inc. now owns 60,185 shares of the medical research company’s stock worth $10,387,000 after purchasing an additional 449 shares during the last quarter. Finally, WealthTrust Axiom LLC increased its position in shares of Amgen by 20.5% in the 2nd quarter. WealthTrust Axiom LLC now owns 2,055 shares of the medical research company’s stock worth $353,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

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AMGN has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $189.00 target price on shares of Amgen in a research report on Friday, June 30th. ValuEngine raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Mizuho reissued a “buy” rating and issued a $195.00 target price on shares of Amgen in a research report on Sunday, July 9th. Morgan Stanley reissued an “overweight” rating on shares of Amgen in a research report on Monday, July 10th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $195.00 target price on shares of Amgen in a research report on Tuesday, July 11th. Eleven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Amgen has a consensus rating of “Buy” and an average target price of $190.03.

Shares of Amgen Inc. (NASDAQ:AMGN) traded down 1.54% during mid-day trading on Friday, hitting $173.80. 594,283 shares of the stock were exchanged. The firm has a market cap of $126.82 billion, a price-to-earnings ratio of 15.83 and a beta of 1.36. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $191.10. The company’s 50-day moving average is $185.07 and its 200-day moving average is $172.01.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Amgen had a net margin of 35.54% and a return on equity of 30.26%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $3.02 EPS. Equities research analysts anticipate that Amgen Inc. will post $12.58 earnings per share for the current fiscal year.

The business also recently disclosed 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 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, November 16th. Amgen’s payout ratio is presently 41.63%.

Amgen announced that its board has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Amgen

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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