Amalgamated Bank Has $35.51 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Amalgamated Bank decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 113,663 shares of the medical research company’s stock after selling 541 shares during the period. Amalgamated Bank’s holdings in Amgen were worth $35,514,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. United Community Bank acquired a new position in shares of Amgen during the 4th quarter worth $29,000. Horizon Financial Services LLC acquired a new position in shares of Amgen during the 1st quarter worth $28,000. nVerses Capital LLC acquired a new position in shares of Amgen during the 2nd quarter worth $31,000. Bbjs Financial Advisors LLC acquired a new position in shares of Amgen during the 2nd quarter worth $33,000. Finally, FSA Wealth Management LLC increased its stake 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 worth $40,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMGN shares. Wells Fargo & Company lowered shares of Amgen from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $320.00 to $335.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Bank of America raised their target price 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 raised their target price on shares of Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $327.28.

Amgen Price Performance

NASDAQ:AMGN opened at $332.80 on Wednesday. The company has a 50-day moving average of $329.00 and a 200-day moving average of $304.81. The company has a market capitalization of $178.53 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 2.93 and a beta of 0.61. Amgen Inc. has a 52 week low of $249.70 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the business posted $5.00 earnings per share. Amgen’s revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts anticipate that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, August 16th. Amgen’s dividend payout ratio is currently 128.57%.

About Amgen

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.