Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 18.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,400 shares of the medical research company’s stock after buying an additional 3,800 shares during the period. Cornerstone Advisors LLC’s holdings in Amgen were worth $6,558,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMGN. Ellevest Inc. lifted its holdings in shares of Amgen by 13.0% in the 3rd quarter. Ellevest Inc. now owns 3,866 shares of the medical research company’s stock worth $1,039,000 after acquiring an additional 444 shares during the last quarter. Houlihan Financial Resource Group Ltd. acquired a new stake in Amgen during the 3rd quarter worth approximately $902,000. Nichols & Pratt Advisers LLP MA lifted its holdings in Amgen by 12.3% during the 3rd quarter. Nichols & Pratt Advisers LLP MA now owns 5,094 shares of the medical research company’s stock worth $1,369,000 after buying an additional 557 shares in the last quarter. Hunter Associates Investment Management LLC lifted its holdings in Amgen by 1.4% during the 3rd quarter. Hunter Associates Investment Management LLC now owns 56,164 shares of the medical research company’s stock worth $15,092,000 after buying an additional 779 shares in the last quarter. Finally, Biondo Investment Advisors LLC lifted its holdings in Amgen by 4.4% during the 3rd quarter. Biondo Investment Advisors LLC now owns 31,219 shares of the medical research company’s stock worth $8,390,000 after buying an additional 1,316 shares in the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,096 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $273.03, for a total value of $572,270.88. Following the completion of the transaction, the senior vice president now directly owns 10,874 shares in the company, valued at $2,968,928.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.

Amgen Trading Up 1.0 %

AMGN stock traded up $3.05 on Monday, hitting $294.17. 1,512,531 shares of the company were exchanged, compared to its average volume of 2,974,777. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The business’s fifty day moving average is $295.30 and its two-hundred day moving average is $274.74. The stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.74 and a beta of 0.62.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 19.54 earnings per share for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Friday, February 16th will be given a $2.25 dividend. The ex-dividend date is Thursday, February 15th. This represents a $9.00 annualized dividend and a dividend yield of 3.06%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. Amgen’s dividend payout ratio is presently 68.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Amgen in a research report on Thursday, November 9th. They issued a “hold” rating and a $240.00 target price on the stock. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 7th. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and increased their target price for the company from $286.00 to $326.00 in a research report on Tuesday, December 19th. Finally, The Goldman Sachs Group increased their target price on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $295.30.

Check Out Our Latest Report on Amgen

Amgen Company Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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