Cornerstone Capital Inc. boosted its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,171 shares of the medical research company’s stock after buying an additional 2,455 shares during the quarter. Amgen accounts for about 2.1% of Cornerstone Capital Inc.’s portfolio, making the stock its 25th largest holding. Cornerstone Capital Inc.’s holdings in Amgen were worth $13,717,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Kwmg LLC purchased a new position in Amgen during the 2nd quarter worth approximately $108,000. Mainstay Capital Management LLC ADV purchased a new position in Amgen during the 2nd quarter worth approximately $111,000. Polaris Greystone Financial Group LLC purchased a new position in Amgen during the 3rd quarter worth approximately $166,000. Family Firm Inc. purchased a new position in Amgen during the 2nd quarter worth approximately $202,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Amgen during the 3rd quarter valued at approximately $202,000. 76.94% of the stock is owned by institutional investors.
In related news, SVP Cynthia M. Patton sold 1,777 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $202.88, for a total value of $360,517.76. Following the completion of the sale, the senior vice president now owns 23,090 shares of the company’s stock, valued at approximately $4,684,499.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.
Shares of NASDAQ AMGN opened at $191.44 on Friday. The firm has a market capitalization of $126.81 billion, a P/E ratio of 15.22, a P/E/G ratio of 2.07 and a beta of 1.41. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 2.05. Amgen, Inc. has a one year low of $163.31 and a one year high of $210.19.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, October 30th. The medical research company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.45 by $0.24. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.78 billion. Amgen had a net margin of 9.44% and a return on equity of 54.14%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.27 EPS. Equities research analysts expect that Amgen, Inc. will post 14.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 15th will be issued a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 3.03%. This is a positive change from Amgen’s previous quarterly dividend of $1.32. Amgen’s payout ratio is presently 41.97%.
AMGN has been the subject of several recent research reports. Cann reaffirmed a “buy” rating and set a $224.00 target price on shares of Amgen in a report on Monday, October 1st. Royal Bank of Canada reaffirmed a “neutral” rating and set a $193.00 target price on shares of Amgen in a report on Monday, September 10th. Goldman Sachs Group reaffirmed a “buy” rating and set a $229.00 target price on shares of Amgen in a report on Friday, October 12th. Oppenheimer reaffirmed a “buy” rating and set a $224.00 target price on shares of Amgen in a report on Tuesday, August 28th. Finally, Jefferies Financial Group set a $220.00 target price on shares of Amgen and gave the company a “buy” rating in a report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and an average target price of $205.68.
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Amgen Company Profile
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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