Cobblestone Capital Advisors LLC NY Acquires 1,111 Shares of Amgen Inc. (NASDAQ:AMGN)

Cobblestone Capital Advisors LLC NY increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 84.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,431 shares of the medical research company’s stock after buying an additional 1,111 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Amgen were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Encompass More Asset Management lifted its position in shares of Amgen by 13.7% during the third quarter. Encompass More Asset Management now owns 1,342 shares of the medical research company’s stock valued at $432,000 after buying an additional 162 shares during the last quarter. PFM Health Sciences LP lifted its position in Amgen by 11.4% during the third quarter. PFM Health Sciences LP now owns 90,297 shares of the medical research company’s stock valued at $29,095,000 after acquiring an additional 9,263 shares during the last quarter. Kolinsky Wealth Management LLC boosted its stake in Amgen by 4.4% in the third quarter. Kolinsky Wealth Management LLC now owns 2,241 shares of the medical research company’s stock valued at $722,000 after acquiring an additional 95 shares in the last quarter. Ironwood Investment Counsel LLC grew its holdings in Amgen by 3.7% in the third quarter. Ironwood Investment Counsel LLC now owns 4,784 shares of the medical research company’s stock worth $1,542,000 after purchasing an additional 170 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Amgen by 64.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 293,333 shares of the medical research company’s stock valued at $94,515,000 after purchasing an additional 115,210 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $282.87 on Monday. The company has a market capitalization of $152.05 billion, a P/E ratio of 36.22, a P/E/G ratio of 2.52 and a beta of 0.60. Amgen Inc. has a 12-month low of $257.80 and a 12-month high of $346.85. The business’s 50 day moving average is $311.37 and its two-hundred day moving average is $317.16. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 EPS. Analysts expect that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMGN. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Leerink Partners cut their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research note on Wednesday, November 27th. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $380.00 price objective on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $323.05.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.