Cornerstone Select Advisors LLC Purchases 446 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

Cornerstone Select Advisors LLC increased its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 14.2% during the first quarter, Holdings Channel.com reports. The firm owned 3,593 shares of the medical research company’s stock after buying an additional 446 shares during the quarter. Cornerstone Select Advisors LLC’s holdings in Amgen were worth $1,119,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Amgen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 52,870,453 shares of the medical research company’s stock valued at $16,471,790,000 after acquiring an additional 148,658 shares in the last quarter. Northern Trust Corp lifted its stake in Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock valued at $1,676,183,000 after acquiring an additional 875,254 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amgen by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company’s stock valued at $1,336,647,000 after acquiring an additional 685,785 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Amgen by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after acquiring an additional 243,306 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after acquiring an additional 3,653,205 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Up 2.1%

Shares of AMGN opened at $296.47 on Monday. The business has a 50-day moving average of $293.30 and a 200 day moving average of $293.10. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17. The firm has a market cap of $159.61 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31.

Amgen (NASDAQ:AMGN – Get Free Report) last announced 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 company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the firm posted $4.97 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group decreased their target price on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $303.76.

View Our Latest Analysis on Amgen

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is owned by insiders.

About Amgen

(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.

See Also

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