FineMark National Bank & Trust Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

FineMark National Bank & Trust reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,782 shares of the medical research company’s stock after selling 334 shares during the quarter. FineMark National Bank & Trust’s holdings in Amgen were worth $11,672,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Amgen during the 4th quarter worth about $401,913,000. Van ECK Associates Corp grew its stake in Amgen by 263.8% during the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after purchasing an additional 753,147 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Amgen by 40.7% in the fourth quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock valued at $609,526,000 after purchasing an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Amgen by 11.7% in the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after purchasing an additional 538,545 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,341 shares of company stock worth $20,644,335. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AMGN. Truist Financial dropped their target price on Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Leerink Partners reduced their target price on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Royal Bank of Canada restated an “outperform” rating and set a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Finally, Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $314.04.

Amgen Trading Down 0.5 %

Shares of NASDAQ:AMGN opened at $314.38 on Tuesday. The business’s 50 day moving average price is $298.13 and its 200-day moving average price is $298.50. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $168.89 billion, a price-to-earnings ratio of 41.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

About Amgen

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.