Brandywine Global Investment Management LLC Buys 11,924 Shares of Amgen Inc. $AMGN

Key Points

• Brandywine Global Investment Management LLC increased its stake in Amgen Inc. by 23% during the first quarter, owning 63,720 shares valued at approximately $19.85 million.
• Amgen's latest earnings report showed a significant beat on earnings per share, reporting $6.02 against an estimated $5.28, and a revenue increase of 9.4% year-over-year, totaling $9.18 billion.
• The company recently announced a quarterly dividend of $2.38 per share, equating to an annualized dividend of $9.52 and a yield of 3.2%.

Brandywine Global Investment Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,720 shares of the medical research company's stock after buying an additional 11,924 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Amgen were worth $19,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AMGN. First Pacific Financial increased its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the period. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth approximately $26,000. Global Wealth Strategies & Associates increased its position in Amgen by 1,388.9% in the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after buying an additional 125 shares during the period. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth approximately $36,000. Finally, South Plains Financial Inc. bought a new position in Amgen in the 4th quarter worth approximately $37,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Amgen stock traded up $0.6950 on Thursday, reaching $297.1450. The company's stock had a trading volume of 522,671 shares, compared to its average volume of 2,840,416. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market cap of $159.97 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.55 and a beta of 0.49. The business's fifty day moving average price is $293.49 and its 200 day moving average price is $293.19. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter in the prior year, the firm posted $4.97 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.2%. Amgen's dividend payout ratio is presently 77.84%.

Analysts Set New Price Targets

Several research analysts have commented on the company. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Royal Bank Of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley boosted their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $303.76.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Amgen Company 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.