Cornerstone Wealth Group LLC Acquires 12,816 Shares of Amgen Inc. $AMGN

Cornerstone Wealth Group LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 67.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,707 shares of the medical research company’s stock after acquiring an additional 12,816 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Amgen were worth $8,853,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Amgen by 40.2% during the 1st quarter. GAMMA Investing LLC now owns 11,753 shares of the medical research company’s stock valued at $3,662,000 after purchasing an additional 3,369 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Amgen by 6.4% during the 1st quarter. Sound Income Strategies LLC now owns 834 shares of the medical research company’s stock valued at $260,000 after purchasing an additional 50 shares during the last quarter. Acropolis Investment Management LLC increased its position in shares of Amgen by 7.8% during the 1st quarter. Acropolis Investment Management LLC now owns 1,097 shares of the medical research company’s stock valued at $342,000 after purchasing an additional 79 shares during the last quarter. Finally, Stewardship Advisors LLC increased its position in shares of Amgen by 4.9% during the 1st quarter. Stewardship Advisors LLC now owns 893 shares of the medical research company’s stock valued at $278,000 after purchasing an additional 42 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the sale, the senior vice president owned 7,209 shares in the company, valued at approximately $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.8%

NASDAQ AMGN opened at $292.40 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $335.88. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a 50 day simple moving average of $286.58 and a two-hundred day simple moving average of $287.33. The stock has a market cap of $157.42 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.49.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same quarter last year, the business posted $4.97 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were issued a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a yield of 3.3%. Amgen’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMGN. Citigroup increased their price objective on Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. UBS Group dropped their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Piper Sandler increased their target price on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Finally, Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus target price of $309.42.

View Our Latest Report on Amgen

Amgen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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