Amalgamated Bank Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Amalgamated Bank increased its position in Amgen Inc. (NASDAQ:AMGN) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,810 shares of the medical research company’s stock after acquiring an additional 147 shares during the period. Amalgamated Bank’s holdings in Amgen were worth $36,671,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Hershey Financial Advisers LLC bought a new position in Amgen during the second quarter valued at approximately $30,000. nVerses Capital LLC purchased a new stake in Amgen during the second quarter valued at approximately $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the second quarter valued at $33,000. Matrix Trust Co purchased a new position in Amgen during the third quarter valued at approximately $36,000. Finally, FSA Wealth Management LLC boosted its holdings in shares of Amgen by 182.0% during the 1st quarter. FSA Wealth Management LLC now owns 141 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird restated an “underperform” rating and issued a $215.00 target price on shares of Amgen in a report on Wednesday, September 25th. Bank of America upped their price target on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $362.00 target price on shares of Amgen in a research report on Thursday, September 26th. Sanford C. Bernstein initiated coverage on Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) 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 issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $333.50.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $316.91 on Tuesday. The company has a market cap of $170.28 billion, a P/E ratio of 40.58, a PEG ratio of 2.81 and a beta of 0.60. Amgen Inc. has a one year low of $260.52 and a one year high of $346.85. The business’s 50-day simple moving average is $324.27 and its 200 day simple moving average is $316.29. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

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.