Amalgamated Bank Increases Position in Amgen, Inc. (AMGN)

Amalgamated Bank lifted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 47.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,095 shares of the medical research company’s stock after buying an additional 27,240 shares during the period. Amalgamated Bank’s holdings in Amgen were worth $14,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. TrimTabs Asset Management LLC grew its position in shares of Amgen by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after buying an additional 288 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of Amgen by 0.8% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock valued at $110,000 after purchasing an additional 5 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Amgen during the first quarter valued at approximately $106,000. Omnia Family Wealth LLC boosted its position in shares of Amgen by 25.3% during the second quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 147 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Amgen by 87.4% during the second quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock valued at $126,000 after purchasing an additional 341 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

In related news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,050 shares of company stock valued at $1,239,673. 0.19% of the stock is owned by corporate insiders.

AMGN has been the subject of several recent analyst reports. Credit Suisse Group restated a “neutral” rating and issued a $186.00 price target (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Royal Bank Of Canada initiated coverage on Amgen in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price target for the company. Mizuho restated a “buy” rating and issued a $183.00 price target (down previously from $195.00) on shares of Amgen in a research note on Monday, August 21st. Morgan Stanley decreased their price target on Amgen from $196.00 to $193.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. Finally, Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Amgen has an average rating of “Hold” and a consensus price target of $190.22.

Amgen, Inc. (AMGN) opened at $176.22 on Thursday. The firm has a market capitalization of $129,712.96, a PE ratio of 14.20, a PEG ratio of 2.59 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a current ratio of 6.07 and a quick ratio of 5.72. Amgen, Inc. has a one year low of $138.83 and a one year high of $191.10.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.02 earnings per share. research analysts forecast that Amgen, Inc. will post 12.66 EPS for the current year.

Amgen declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, November 16th. Amgen’s payout ratio is presently 41.63%.

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Amgen Company Profile

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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