Cobblestone Capital Advisors LLC NY cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 46.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,280 shares of the medical research company's stock after selling 1,130 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in Amgen were worth $399,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Capital World Investors boosted its holdings in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. GAMMA Investing LLC boosted its holdings in Amgen by 43,573.5% during the first 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 during the period. Capital International Investors boosted its holdings in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the period. Nuveen LLC bought a new stake in Amgen during the first quarter valued at about $688,868,000. Finally, Northern Trust Corp boosted its holdings in Amgen by 15.8% during the fourth 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 during the period. 76.50% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.76% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Bank of America upped their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Citigroup increased their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Finally, Morgan Stanley increased their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus price target of $303.76.
Get Our Latest Research Report on Amgen
Amgen Price Performance
AMGN traded up $0.96 during midday trading on Thursday, reaching $290.29. 1,910,959 shares of the company's stock were exchanged, compared to its average volume of 2,880,718. The firm has a market capitalization of $156.28 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The business has a 50-day simple moving average of $293.12 and a two-hundred day simple moving average of $292.80.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter in the previous year, the company posted $4.97 earnings per share. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.
Amgen Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is 77.84%.
Amgen Company Profile
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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.
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