Cornerstone Wealth Management LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Cornerstone Wealth Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 8.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,453 shares of the medical research company’s stock after purchasing an additional 183 shares during the period. Cornerstone Wealth Management LLC’s holdings in Amgen were worth $639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares in the last quarter. Lincoln Capital Corp boosted its stake in shares of Amgen by 4.9% during the 4th quarter. Lincoln Capital Corp now owns 1,713 shares of the medical research company’s stock worth $447,000 after acquiring an additional 80 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Amgen by 40.0% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 4,871 shares of the medical research company’s stock worth $1,270,000 after acquiring an additional 1,391 shares during the period. FCG Investment Co increased its stake in Amgen by 13.8% in the 4th quarter. FCG Investment Co now owns 1,267 shares of the medical research company’s stock valued at $330,000 after purchasing an additional 154 shares in the last quarter. Finally, Apeiron RIA LLC raised its holdings in Amgen by 21.9% during the fourth quarter. Apeiron RIA LLC now owns 2,744 shares of the medical research company’s stock worth $715,000 after purchasing an additional 493 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMGN. Truist Financial dropped their price target on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Bank of America restated an “underperform” rating and set a $256.00 target price on shares of Amgen in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Citigroup reduced their target price on Amgen from $335.00 to $310.00 in a research note on Wednesday, November 27th. Finally, Barclays raised their price target on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and an average target price of $314.65.

Amgen Trading Down 0.9 %

NASDAQ AMGN opened at $275.42 on Friday. The firm has a market capitalization of $148.05 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company’s 50 day moving average price is $271.39 and its 200 day moving average price is $305.99.

Amgen (NASDAQ:AMGN) last posted its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the business posted $4.96 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio (DPR) is 115.24%.

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.