Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 84.2% during the third quarter, HoldingsChannel.com reports. The fund owned 2,431 shares of the medical research company’s stock after buying an additional 1,111 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Amgen were worth $783,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Amgen during the 3rd quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in Amgen during the second quarter worth about $26,000. Hershey Financial Advisers LLC acquired a new position in Amgen in the 2nd quarter valued at about $30,000. nVerses Capital LLC purchased a new stake in shares of Amgen in the 2nd quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Amgen during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $282.87 on Monday. The firm has a market capitalization of $152.05 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The business’s fifty day moving average price is $311.37 and its 200 day moving average price is $317.16. Amgen Inc. has a 12 month low of $257.80 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $4.96 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMGN shares. Sanford C. Bernstein started coverage on Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and lifted their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $323.05.

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.