Saturna Capital Corp Sells 67,043 Shares of Amgen Inc. $AMGN

Saturna Capital Corp lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 58.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,077 shares of the medical research company’s stock after selling 67,043 shares during the period. Saturna Capital Corp’s holdings in Amgen were worth $13,144,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMGN. Empirical Finance LLC raised its stake in shares of Amgen by 0.6% in the second quarter. Empirical Finance LLC now owns 18,879 shares of the medical research company’s stock valued at $5,271,000 after buying an additional 117 shares during the period. TD Waterhouse Canada Inc. raised its stake in Amgen by 4.6% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 94,987 shares of the medical research company’s stock valued at $27,588,000 after acquiring an additional 4,199 shares during the period. Renaissance Group LLC purchased a new position in shares of Amgen in the second quarter worth about $29,586,000. FineMark National Bank & Trust raised its position in shares of Amgen by 1.1% in the second quarter. FineMark National Bank & Trust now owns 45,092 shares of the medical research company’s stock valued at $12,590,000 after purchasing an additional 482 shares during the period. Finally, Traub Capital Management LLC purchased a new stake in shares of Amgen in the second quarter worth about $141,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. Weiss Ratings upgraded shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Bank of America upped their price target on shares of Amgen from $261.00 to $272.00 and gave the stock an “underperform” rating in a report on Friday, September 26th. The Goldman Sachs Group dropped their price objective on Amgen from $405.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Morgan Stanley cut their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $316.85.

Amgen Trading Up 0.7%

AMGN stock opened at $343.99 on Wednesday. The company has a market capitalization of $185.23 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a one year low of $253.30 and a one year high of $345.84. The company’s 50 day moving average price is $297.43 and its two-hundred day moving average price is $291.24.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during 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 firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a dividend yield of 2.8%. Amgen’s payout ratio is currently 73.57%.

Insider Activity

In related news, 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 transaction, the executive vice president directly owned 41,923 shares in the company, valued at $14,120,924.09. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 890 shares of the business’s 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 completion of the sale, the senior vice president owned 7,082 shares of the company’s stock, valued at $2,381,251.68. The trade was a 11.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.76% of the company’s stock.

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.