Cornerstone Wealth Group LLC Acquires 321 Shares of Amgen Inc. (NASDAQ:AMGN)

Cornerstone Wealth Group LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,814 shares of the medical research company’s stock after acquiring an additional 321 shares during the period. Cornerstone Wealth Group LLC’s holdings in Amgen were worth $4,004,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Capital International Investors increased its stake in shares of Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Norges Bank bought a new stake in shares of Amgen during the 4th quarter valued at $1,556,912,000. Vanguard Group Inc. boosted its position in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Amgen by 137.1% in the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its stake in Amgen by 28,684.1% in the first quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after buying an additional 830,405 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $4.27 on Friday, hitting $328.80. The company had a trading volume of 1,769,917 shares, compared to its average volume of 2,582,875. The stock has a market cap of $176.38 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 2.78 and a beta of 0.58. The stock has a 50 day moving average price of $322.10 and a 200 day moving average price of $299.58. Amgen Inc. has a 1-year low of $248.38 and a 1-year high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company posted $5.00 EPS. Analysts expect that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $9.00 annualized dividend and a yield of 2.74%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMGN shares. Mizuho boosted their price objective on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Morgan Stanley dropped their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. UBS Group boosted their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $326.89.

Amgen Company 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.