Cornerstone Select Advisors LLC Acquires Shares of 3,147 Amgen Inc. (NASDAQ:AMGN)

Cornerstone Select Advisors LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,147 shares of the medical research company's stock, valued at approximately $820,000.

Several other large investors have also made changes to their positions in the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at about $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at $34,000. Atala Financial Inc acquired a new position in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen during the 4th quarter worth $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $6.19 during mid-day trading on Friday, hitting $265.86. The stock had a trading volume of 3,326,938 shares, compared to its average volume of 2,766,114. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market cap of $142.94 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.63 and a beta of 0.51. The company's 50 day simple moving average is $296.08 and its 200 day simple moving average is $289.86. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $3.96 earnings per share. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.58%. Amgen's payout ratio is presently 86.86%.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. This trade represents a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,707 shares of company stock worth $12,819,342. Corporate insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on Amgen from $310.00 to $329.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. UBS Group reiterated a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target on the stock. Citigroup reissued a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $310.23.

Amgen 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.