Cornerstone Wealth Group LLC Boosts Position in Amgen Inc. $AMGN

Cornerstone Wealth Group LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,755 shares of the medical research company’s stock after acquiring an additional 2,365 shares during the period. Cornerstone Wealth Group LLC’s holdings in Amgen were worth $11,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in shares of Amgen during the 4th quarter worth $26,000. Olistico Wealth LLC purchased a new position in shares of Amgen during the 4th quarter worth $33,000. Holos Integrated Wealth LLC purchased a new position in shares of Amgen during the 4th quarter worth $37,000. Cloud Capital Management LLC purchased a new position in shares of Amgen during the 3rd quarter worth $34,000. Finally, Saranac Partners Ltd purchased a new position in shares of Amgen during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMGN shares. Piper Sandler boosted their price objective on shares of Amgen from $381.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Truist Financial boosted their price objective on shares of Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a report on Thursday, January 8th. Mizuho boosted their price objective on shares of Amgen from $280.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Citigroup boosted their price objective on shares of Amgen from $315.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Finally, Daiwa Securities Group boosted their price objective on shares of Amgen from $370.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $356.24.

Amgen Stock Down 0.8%

Shares of AMGN opened at $348.22 on Thursday. The firm has a market cap of $187.93 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 3.30 and a beta of 0.47. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78. The company’s 50-day moving average price is $363.86 and its 200 day moving average price is $336.66. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $391.29.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.53. The company had revenue of $9.87 billion during the quarter, compared to the consensus estimate of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.Amgen’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be given a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s payout ratio is currently 70.84%.

Amgen Company Profile

Amgen Inc (NASDAQ: AMGN) is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen’s work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen’s commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.