W.H. Cornerstone Investments Inc. Acquires 95 Shares of Amgen Inc. (NASDAQ:AMGN)

W.H. Cornerstone Investments Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the medical research company’s stock after buying an additional 95 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Amgen were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Meyer Handelman Co. lifted its stake in shares of Amgen by 7.2% during the 2nd quarter. Meyer Handelman Co. now owns 129,831 shares of the medical research company’s stock worth $40,566,000 after purchasing an additional 8,700 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Amgen by 11.0% during the first quarter. EP Wealth Advisors LLC now owns 23,769 shares of the medical research company’s stock valued at $6,758,000 after buying an additional 2,353 shares during the last quarter. Stanley Laman Group Ltd. bought a new stake in shares of Amgen in the 2nd quarter valued at about $3,354,000. Verity & Verity LLC raised its stake in shares of Amgen by 2.7% during the 2nd quarter. Verity & Verity LLC now owns 82,368 shares of the medical research company’s stock worth $25,736,000 after acquiring an additional 2,182 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY lifted its position in Amgen by 9.3% during the second quarter. Matrix Asset Advisors Inc. NY now owns 45,068 shares of the medical research company’s stock valued at $14,081,000 after acquiring an additional 3,845 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $316.91 on Tuesday. 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 stock has a market capitalization of $170.28 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.81 and a beta of 0.60. The firm’s 50 day simple moving average is $324.27 and its 200-day simple moving average is $316.29. Amgen Inc. has a 12 month low of $260.52 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter last year, the business earned $4.96 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $9.00 dividend on an annualized basis and a yield of 2.84%. Amgen’s dividend payout ratio is currently 115.24%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company downgraded Amgen from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, September 25th. UBS Group decreased their price objective on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $333.50.

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.