Cornerstone Capital Inc. Has $30.78 Million Position in Amgen Inc. (NASDAQ:AMGN)

Cornerstone Capital Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,881 shares of the medical research company’s stock after selling 2,058 shares during the quarter. Amgen comprises approximately 3.4% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 5th largest position. Cornerstone Capital Inc.’s holdings in Amgen were worth $30,784,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its stake in shares of Amgen by 11.8% in the 3rd quarter. Boston Trust Walden Corp now owns 43,950 shares of the medical research company’s stock valued at $11,812,000 after acquiring an additional 4,650 shares in the last quarter. Occidental Asset Management LLC bought a new stake in shares of Amgen in the 3rd quarter valued at $407,000. Secure Asset Management LLC bought a new stake in shares of Amgen in the 3rd quarter valued at $300,000. Powers Advisory Group LLC bought a new stake in shares of Amgen in the 3rd quarter valued at $231,000. Finally, Benin Management CORP bought a new stake in shares of Amgen in the 3rd quarter valued at $267,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.2 %

Shares of AMGN opened at $269.98 on Friday. The business’s 50-day moving average price is $275.10 and its 200-day moving average price is $281.52. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The stock has a market cap of $144.81 billion, a PE ratio of 21.62, a P/E/G ratio of 2.61 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 earnings per share. On average, equities analysts forecast that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is 72.06%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a research note on Wednesday, April 3rd. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. Finally, UBS Group cut their price target on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.95.

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.