Amgen Inc. $AMGN Shares Bought by Amalgamated Bank

Amalgamated Bank raised its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,021 shares of the medical research company’s stock after acquiring an additional 1,767 shares during the quarter. Amalgamated Bank’s holdings in Amgen were worth $31,836,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Amgen by 5.5% in the first quarter. Golden State Wealth Management LLC now owns 1,933 shares of the medical research company’s stock valued at $602,000 after purchasing an additional 101 shares during the last quarter. ABLE Financial Group LLC acquired a new position in Amgen in the first quarter valued at $200,000. Clear Creek Financial Management LLC increased its stake in Amgen by 3.9% in the first quarter. Clear Creek Financial Management LLC now owns 2,158 shares of the medical research company’s stock valued at $672,000 after purchasing an additional 82 shares during the last quarter. Finally, Arbor Trust Wealth Advisors LLC acquired a new position in Amgen in the first quarter valued at $215,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. UBS Group lowered their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler upped their price objective on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research note on Monday, August 25th. Raymond James Financial initiated coverage on Amgen in a research note on Wednesday, September 3rd. They set a “market perform” rating on the stock. Finally, Morgan Stanley upped their price objective on Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $300.94.

Amgen Stock Down 0.1%

AMGN opened at $291.77 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $335.88. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The stock has a market cap of $157.08 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.61 and a beta of 0.49. The stock’s 50 day moving average price is $287.73 and its 200 day moving average price is $287.45.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 22nd. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by corporate 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.