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

FineMark National Bank & Trust boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 45,092 shares of the medical research company’s stock after acquiring an additional 482 shares during the quarter. FineMark National Bank & Trust’s holdings in Amgen were worth $12,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Fairvoy Private Wealth LLC raised its position in Amgen by 1.1% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company’s stock valued at $885,000 after purchasing an additional 35 shares during the last quarter. Nicholson Wealth Management Group LLC increased its stake in Amgen by 0.6% in the second quarter. Nicholson Wealth Management Group LLC now owns 5,918 shares of the medical research company’s stock valued at $1,652,000 after purchasing an additional 35 shares during the period. Crumly & Associates Inc. boosted its stake in shares of Amgen by 3.2% during the second quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company’s stock worth $320,000 after buying an additional 36 shares during the period. Maryland Capital Advisors Inc. grew its holdings in shares of Amgen by 5.2% during the second quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company’s stock worth $204,000 after buying an additional 36 shares during the last quarter. Finally, Lion Street Advisors LLC increased its position in Amgen by 1.3% in the 2nd quarter. Lion Street Advisors LLC now owns 2,773 shares of the medical research company’s stock valued at $774,000 after acquiring an additional 36 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Cantor Fitzgerald increased their price objective on Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Wells Fargo & Company increased their price target on Amgen from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Bank of America boosted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. The Goldman Sachs Group cut their price objective on shares of Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Daiwa Capital Markets lifted their target price on shares of Amgen from $310.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $316.85.

Amgen Price Performance

Amgen stock opened at $343.99 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $345.84. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The business has a fifty day moving average of $297.43 and a two-hundred day moving average of $291.24. The company has a market cap of $185.23 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45.

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

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is presently 73.57%.

Insider Buying and Selling

In other news, EVP Murdo Gordon sold 6,879 shares of the business’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 owned 41,923 shares of the company’s stock, valued at $14,120,924.09. The trade was a 14.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total value of $299,253.60. Following the completion of the sale, the senior vice president owned 7,082 shares in the company, valued at approximately $2,381,251.68. This represents a 11.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.76% 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.