Cornerstone Capital Inc. boosted its holdings in shares of Amgen (NASDAQ:AMGN) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,289 shares of the medical research company’s stock after buying an additional 2,915 shares during the quarter. Amgen makes up about 1.7% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 27th largest holding. Cornerstone Capital Inc.’s holdings in Amgen were worth $10,619,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Lederer & Associates Investment Counsel CA boosted its position in shares of Amgen by 2.1% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 13,306 shares of the medical research company’s stock worth $2,314,000 after purchasing an additional 277 shares during the period. Capital City Trust Co. FL boosted its position in shares of Amgen by 5.8% in the fourth quarter. Capital City Trust Co. FL now owns 5,075 shares of the medical research company’s stock worth $946,000 after purchasing an additional 280 shares during the period. Community Bank & Trust Waco Texas boosted its position in shares of Amgen by 7.7% in the fourth quarter. Community Bank & Trust Waco Texas now owns 3,930 shares of the medical research company’s stock worth $683,000 after purchasing an additional 281 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Amgen by 1.1% in the fourth quarter. First Citizens Bank & Trust Co. now owns 25,545 shares of the medical research company’s stock worth $4,442,000 after purchasing an additional 284 shares during the period. Finally, Timber Creek Capital Management LLC boosted its position in shares of Amgen by 1.6% in the fourth quarter. Timber Creek Capital Management LLC now owns 18,672 shares of the medical research company’s stock worth $3,247,000 after purchasing an additional 285 shares during the period. Institutional investors own 78.43% of the company’s stock.
AMGN has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating and issued a $204.00 price target on shares of Amgen in a research report on Friday, February 2nd. Mizuho reiterated a “buy” rating and issued a $192.00 price target on shares of Amgen in a research report on Thursday, February 1st. Oppenheimer reiterated a “buy” rating and issued a $205.00 price target on shares of Amgen in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a research report on Thursday, April 5th. Finally, TheStreet lowered shares of Amgen from a “b-” rating to a “c+” rating in a research report on Wednesday, April 11th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and a consensus target price of $191.70.
Amgen opened at $177.96 on Friday, Marketbeat.com reports. The firm has a market cap of $119.07 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. The company has a current ratio of 3.88, a quick ratio of 3.60 and a debt-to-equity ratio of 2.14. Amgen has a 52-week low of $153.56 and a 52-week high of $201.23.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.23. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a net margin of 9.67% and a return on equity of 35.80%. Amgen’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.15 earnings per share. equities research analysts predict that Amgen will post 13.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, May 16th. Amgen’s payout ratio is 41.97%.
Amgen announced that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $172.68, for a total transaction of $263,337.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 4,575 shares of company stock worth $818,208. 0.19% of the stock is owned by insiders.
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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