Cornerstone Advisory LLC Sells 779 Shares of Amgen Inc. (NASDAQ:AMGN)

Cornerstone Advisory LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,320 shares of the medical research company’s stock after selling 779 shares during the quarter. Cornerstone Advisory LLC’s holdings in Amgen were worth $561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quilter Plc grew its position in Amgen by 3.0% during the first quarter. Quilter Plc now owns 5,158 shares of the medical research company’s stock worth $1,248,000 after buying an additional 150 shares in the last quarter. Greylin Investment Mangement Inc. boosted its holdings in shares of Amgen by 1.4% in the 1st quarter. Greylin Investment Mangement Inc. now owns 40,527 shares of the medical research company’s stock worth $9,800,000 after purchasing an additional 544 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Amgen by 23.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 658,194 shares of the medical research company’s stock worth $159,276,000 after purchasing an additional 126,396 shares in the last quarter. Toroso Investments LLC boosted its holdings in shares of Amgen by 15.1% in the 1st quarter. Toroso Investments LLC now owns 33,022 shares of the medical research company’s stock worth $7,985,000 after purchasing an additional 4,329 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Amgen by 1.8% in the 1st quarter. Chicago Partners Investment Group LLC now owns 5,192 shares of the medical research company’s stock worth $1,267,000 after purchasing an additional 94 shares in the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.6 %

AMGN opened at $228.12 on Thursday. The business has a 50 day simple moving average of $246.02 and a two-hundred day simple moving average of $243.53. The firm has a market capitalization of $122.03 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.00 and a beta of 0.56. The company has a debt-to-equity ratio of 14.76, a current ratio of 1.53 and a quick ratio of 1.17. Amgen Inc. has a one year low of $198.64 and a one year high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last announced its earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.25. Amgen had a return on equity of 218.34% and a net margin of 24.92%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the prior year, the company earned $4.38 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 17.45 EPS for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were given a $1.94 dividend. This represents a $7.76 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Wednesday, August 17th. Amgen’s dividend payout ratio is currently 65.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMGN. Royal Bank of Canada upped their price objective on Amgen from $224.00 to $236.00 in a report on Friday, August 5th. Oppenheimer reiterated an “outperform” rating and issued a $290.00 price objective on shares of Amgen in a report on Wednesday. SVB Leerink began coverage on Amgen in a report on Monday, May 23rd. They issued a “market perform” rating and a $256.00 price objective for the company. StockNews.com cut Amgen from a “strong-buy” rating to a “buy” rating in a report on Monday, August 8th. Finally, Piper Sandler increased their target price on Amgen from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $241.13.

Insider Transactions at Amgen

In other news, Director Robert Eckert sold 6,600 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total value of $1,643,400.00. Following the completion of the transaction, the director now owns 21,184 shares of the company’s stock, valued at approximately $5,274,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert Eckert sold 6,600 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $249.00, for a total value of $1,643,400.00. Following the sale, the director now owns 21,184 shares in the company, valued at approximately $5,274,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 200 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the sale, the director now owns 5,301 shares in the company, valued at approximately $1,325,037.96. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Amgen Company Profile

(Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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