Amalgamated Bank Buys 2,392 Shares of Amgen Inc. (NASDAQ:AMGN)

Amalgamated Bank raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,254 shares of the medical research company's stock after acquiring an additional 2,392 shares during the period. Amalgamated Bank's holdings in Amgen were worth $34,973,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Beck Mack & Oliver LLC increased its stake in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC increased its position in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Trillium Asset Management LLC increased its position in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after purchasing an additional 37 shares during the last quarter. Finally, Affinity Capital Advisors LLC raised its holdings in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.7%

Shares of Amgen stock opened at $277.13 on Monday. 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 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business has a 50 day moving average price of $281.02 and a 200 day moving average price of $286.19. The company has a market capitalization of $149.02 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMGN. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday. UBS Group restated a "neutral" rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $307.82.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Amgen 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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.