Cobblestone Capital Advisors LLC NY Has $399,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Cobblestone Capital Advisors LLC NY cut its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 46.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,280 shares of the medical research company’s stock after selling 1,130 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Amgen were worth $399,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. KPP Advisory Services LLC boosted its stake in Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new stake in Amgen in the first quarter valued at about $1,331,000. DLK Investment Management LLC boosted its stake in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Founders Financial Alliance LLC raised its position in Amgen by 2.7% in the first quarter. Founders Financial Alliance LLC now owns 1,577 shares of the medical research company’s stock valued at $491,000 after purchasing an additional 42 shares during the last quarter. Finally, Mariner LLC raised its position in Amgen by 2.2% in the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock valued at $238,316,000 after purchasing an additional 19,250 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMGN shares. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada dropped their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. Finally, Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $303.76.

View Our Latest Stock Analysis on Amgen

Amgen Trading Up 1.2%

Shares of AMGN stock opened at $288.23 on Monday. The company has a market cap of $155.17 billion, a P/E ratio of 23.57, a PEG ratio of 2.49 and a beta of 0.49. The stock has a 50 day simple moving average of $293.23 and a two-hundred day simple moving average of $292.81. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $339.17.

Amgen (NASDAQ:AMGNGet Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.97 earnings per share. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Company Profile

(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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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