FineMark National Bank & Trust Increases Position in Amgen Inc. $AMGN

FineMark National Bank & Trust grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,092 shares of the medical research company’s stock after purchasing an additional 482 shares during the period. FineMark National Bank & Trust’s holdings in Amgen were worth $12,590,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares during the period. Geode Capital Management LLC lifted its position in shares of Amgen by 2.3% during the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock worth $3,619,489,000 after purchasing an additional 291,271 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Amgen by 6.0% in the first quarter. Royal Bank of Canada now owns 4,883,134 shares of the medical research company’s stock valued at $1,521,339,000 after purchasing an additional 274,488 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Amgen by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,454,164 shares of the medical research company’s stock valued at $1,387,695,000 after purchasing an additional 243,306 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Amgen by 1.6% in the first quarter. Deutsche Bank AG now owns 3,266,009 shares of the medical research company’s stock valued at $1,017,525,000 after purchasing an additional 52,734 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 890 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $336.24, for a total value of $299,253.60. Following the transaction, the senior vice president directly owned 7,082 shares in the company, valued at $2,381,251.68. This represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Murdo Gordon sold 6,879 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.83, for a total transaction of $2,317,053.57. Following the sale, the executive vice president directly owned 41,923 shares in the company, valued at approximately $14,120,924.09. The trade was a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Raymond James Financial initiated coverage on Amgen in a research report on Wednesday, September 3rd. They set a “market perform” rating on the stock. The Goldman Sachs Group reduced their price objective on Amgen from $405.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler boosted their target price on Amgen from $342.00 to $381.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, UBS Group cut their price target on Amgen from $326.00 to $317.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $316.85.

Amgen Stock Performance

Shares of AMGN stock opened at $343.99 on Wednesday. The company has a market cap of $185.23 billion, a P/E ratio of 28.13, a PEG ratio of 2.61 and a beta of 0.45. The firm has a fifty day moving average price of $297.43 and a 200 day moving average price of $291.24. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $345.84.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be paid a dividend of $2.38 per share. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 2.8%. Amgen’s payout ratio is presently 73.57%.

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.