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

Amalgamated Bank lowered its position in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 109,862 shares of the medical research company’s stock after selling 3,948 shares during the period. Amalgamated Bank’s holdings in Amgen were worth $28,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after purchasing an additional 17,387 shares in the last quarter. Swedbank AB lifted its position in Amgen by 1.1% in the third quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after acquiring an additional 5,751 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in Amgen by 5.8% in the third quarter. Arkadios Wealth Advisors now owns 3,929 shares of the medical research company’s stock valued at $1,266,000 after acquiring an additional 215 shares in the last quarter. First American Bank grew its holdings in shares of Amgen by 24.1% during the third quarter. First American Bank now owns 12,965 shares of the medical research company’s stock worth $4,177,000 after purchasing an additional 2,518 shares during the last quarter. Finally, Colton Groome Financial Advisors LLC increased its position in shares of Amgen by 5.5% during the third quarter. Colton Groome Financial Advisors LLC now owns 6,744 shares of the medical research company’s stock worth $2,173,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMGN. UBS Group restated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America raised their price target on Amgen from $256.00 to $275.00 and gave the stock an “underperform” rating in a report on Thursday, February 6th. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and an average price target of $314.09.

Amgen Trading Up 2.2 %

Shares of Amgen stock opened at $309.72 on Tuesday. The business has a 50 day moving average price of $277.14 and a 200 day moving average price of $300.20. The company has a market capitalization of $166.38 billion, a P/E ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be paid a dividend of $2.38 per share. This is an increase from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.07%. Amgen’s dividend payout ratio is presently 126.09%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by insiders.

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.