Amgen, Inc. (AMGN) Position Boosted by Cornerstone Capital Inc.
Cornerstone Capital Inc. lifted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 63,716 shares of the medical research company’s stock after buying an additional 1,427 shares during the period. Amgen accounts for approximately 2.0% of Cornerstone Capital Inc.’s portfolio, making the stock its 26th largest holding. Cornerstone Capital Inc.’s holdings in Amgen were worth $11,761,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kwmg LLC purchased a new position in Amgen during the second quarter worth approximately $108,000. Braun Bostich & Associates Inc. purchased a new position in Amgen during the first quarter worth approximately $113,000. WealthTrust Fairport LLC purchased a new position in Amgen during the first quarter worth approximately $121,000. Cornerstone Advisors Inc. raised its stake in Amgen by 76.5% during the first quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock worth $124,000 after purchasing an additional 316 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in Amgen during the first quarter worth approximately $174,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.
AMGN has been the topic of a number of recent analyst reports. BidaskClub raised shares of Amgen from a “sell” rating to a “hold” rating in a research note on Friday, May 25th. TheStreet raised shares of Amgen from a “c+” rating to a “b-” rating in a research note on Friday, May 25th. Cann reaffirmed a “buy” rating on shares of Amgen in a research note on Friday, June 8th. Mizuho reaffirmed a “buy” rating and set a $200.00 price target on shares of Amgen in a research note on Friday, June 22nd. Finally, Zacks Investment Research raised shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 price objective for the company in a research report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $202.76.
AMGN opened at $199.50 on Thursday. The firm has a market cap of $129.11 billion, a P/E ratio of 14.82, a PEG ratio of 1.94 and a beta of 1.39. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $203.69. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.31. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $3.27 EPS. equities analysts forecast that Amgen, Inc. will post 13.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 17th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, August 16th. Amgen’s payout ratio is 41.97%.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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