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

Amalgamated Bank decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,862 shares of the medical research company’s stock after selling 3,948 shares during the quarter. Amalgamated Bank’s holdings in Amgen were worth $28,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Lansing Street Advisors lifted its holdings in shares of Amgen by 1.3% in the 3rd quarter. Lansing Street Advisors now owns 2,582 shares of the medical research company’s stock worth $832,000 after acquiring an additional 32 shares during the last quarter. Unionview LLC raised its position in Amgen by 3.8% in the 3rd quarter. Unionview LLC now owns 876 shares of the medical research company’s stock worth $282,000 after purchasing an additional 32 shares during the period. AM Investment Strategies LLC lifted its stake in Amgen by 0.4% in the third quarter. AM Investment Strategies LLC now owns 7,471 shares of the medical research company’s stock worth $2,407,000 after purchasing an additional 33 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Amgen by 0.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,863 shares of the medical research company’s stock valued at $1,889,000 after buying an additional 33 shares during the period. Finally, Beacon Financial Advisory LLC grew its stake in shares of Amgen by 4.6% during the third quarter. Beacon Financial Advisory LLC now owns 769 shares of the medical research company’s stock valued at $248,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David M. Reese sold 25,225 shares of the business’s 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 sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,341 shares of company stock worth $20,644,335 in the last ninety days. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AMGN shares. StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. UBS Group reiterated a “hold” rating on shares of Amgen in a research note on Wednesday, February 12th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. Leerink Partners reduced their price target on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $314.09.

Amgen Trading Up 2.2 %

NASDAQ AMGN opened at $309.72 on Tuesday. The company has a fifty day moving average of $277.14 and a 200 day moving average of $300.20. The company has a market capitalization of $166.38 billion, a PE ratio of 41.02, a P/E/G ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping 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%. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

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

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.