Cornerstone Planning LLC Makes New $2.15 Million Investment in Amgen Inc. $AMGN

Cornerstone Planning LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 6,562 shares of the medical research company’s stock, valued at approximately $2,155,000.

Other institutional investors have also recently made changes to their positions in the company. High Note Wealth LLC increased its position in Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after buying an additional 28 shares in the last quarter. TAGStone Capital Inc. raised its stake in Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after buying an additional 28 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $403,000 after acquiring an additional 28 shares in the last quarter. Destination Wealth Management boosted its holdings in Amgen by 2.1% in the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after acquiring an additional 29 shares in the last quarter. Finally, West Family Investments Inc. grew its stake in shares of Amgen by 1.1% during the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company’s stock worth $779,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $337.60 on Friday. Amgen Inc. has a 52-week low of $267.83 and a 52-week high of $391.29. The stock has a market cap of $182.21 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 3.39 and a beta of 0.42. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The business has a 50-day moving average price of $340.71 and a 200-day moving average price of $345.76.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts predict that Amgen Inc. will post 22.38 EPS for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Daiwa Securities Group cut their price objective on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Truist Financial lifted their target price on shares of Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Leerink Partners reissued a “market perform” rating and set a $355.00 target price on shares of Amgen in a research report on Thursday, March 5th. Wells Fargo & Company upped their price target on shares of Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Finally, Canaccord Genuity Group initiated coverage on shares of Amgen in a report on Monday, April 20th. They issued a “hold” rating and a $366.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $354.42.

About Amgen

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.