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

Cornerstone Wealth Group LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 67.8% in the 2nd quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AMGN. Wealth Preservation Advisors LLC bought a new position in shares of Amgen in the 1st quarter worth approximately $25,000. First Pacific Financial increased its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Activest Wealth Management increased its position in Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after buying an additional 103 shares in the last quarter. Finally, Nova Wealth Management Inc. increased its position in Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after buying an additional 122 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AMGN. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday. Raymond James Financial began coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating for the company. Bank of America raised their price objective on Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Citigroup raised 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. Finally, Piper Sandler raised their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $309.42.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction 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 transaction, the senior vice president directly owned 7,209 shares in the company, valued at $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 is available at this link. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 0.8%

Amgen stock opened at $292.40 on Tuesday. The firm has a market cap of $157.42 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.52 and a beta of 0.49. The stock has a fifty day simple moving average of $286.58 and a two-hundred day simple moving average of $287.33. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

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

About Amgen

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.