Penobscot Investment Management Company 13F: Adds $514K to AMGN Stake
Key Points
- Penobscot Investment Management's reported value in Amgen is $6,387,530.18, with the position now accounting for 1.17% of its portfolio.
- Penobscot Investment Management Company held 17,723 $AMGN shares at quarter end, up 7.39% from the prior quarter.
- Amgen shares recently traded at about $448.02, which is 0.8% above the closing price of $444.63 on the filing date.
- The company has a market cap of approximately $240.4 billion and a P/E ratio of 27.6.
Since the filing, $AMGN is up 0.8% to date (from the $444.63 close on Oct 26, 2026).
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Penobscot Investment Management Company boosted its position in Amgen Inc. (AMGN) by 1,220 shares, raising its total holding to 17,723 shares valued at approximately $7.47 million. This increase was disclosed in a filing on October 26, 2026, with the fund's reported value in Amgen now at $6,387,530.18.
AMGN
Amgen Inc.
Penobscot Investment Management Company vs. the S&P 500
Hypothetical returns from Penobscot Investment Management Company's disclosed trades, not real profit or advice. How we model this.
Where Amgen Fits in Penobscot Investment Management's Portfolio
Amgen now represents about 1.17% of Penobscot's total reported value of $638,753,018. The fund ranks 23rd among its 322 positions, reflecting a 7.39% increase in its stake.
Other Institutional Activity in Amgen
Several other funds have also adjusted their holdings in Amgen recently. Nisa Investment Advisors added 8,294 shares for a total of 167,256 shares worth about $70.5 million. Livforsakringsbolaget Skandia, Omsesidigt increased its stake by 5,980 shares, bringing its total to 77,758 shares valued at around $32.8 million. Meanwhile, Annex Advisory Services opened a new position with 111,413 shares worth about $46.9 million.
Amgen Inc. Stock Up 2.0%
Amgen shares recently traded around $448.02, which is above the closing price of $444.63 on October 26, 2026. The stock is currently above its 50-day moving average by 7.2% and its 200-day moving average by 20.4%. However, it remains about 0.7% below its 52-week high of $450.98.
Recent Earnings
Amgen reported trailing twelve-month revenue of approximately $38.1 billion, with a net margin of 23.0%. The next earnings report is scheduled for November 3, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 6.1%. Revenue missed estimates by 1.5%.
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Profit surprise
EBITDA missed by 45 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 2 target cuts.
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Earnings quality
Gross margin up 4.6 points. Operating margin up 16.5 points. Positive free cash flow.
Earnings Call Summary
Amgen had a strong first quarter with earnings per share of 5.15 dollars beating expectations of 4.73 dollars. Six key medicines grew sales by 24 percent year over year and now make up 70 percent of total sales. The obesity drug Meritide is advancing well in late-stage testing with new studies showing better tolerance when patients take it less frequently, potentially every eight to twelve weeks instead of weekly injections.
Guidance Amgen raised its 2026 outlook to revenue between 37.1 billion and 38.5 billion dollars, and earnings per share between 21.70 and 23.10 dollars. The company expects its fast-growing medicines like Repatha and Evenity to offset patent losses. Management said capital spending will remain at about 2.6 billion dollars to scale manufacturing for new drug launches.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Amgen pays an annual dividend of $10.08 per share, resulting in a yield of 2.27%.
Insider Buying and Selling at Amgen Inc.
Recently, several officers sold shares of Amgen. Nancy A. Grygiel sold 2,970 shares at an average price of $402.16, totaling about $1,194,415 on August 6, 2026. Derek Miller sold 3,890 shares for approximately $1,565,898 at an average price of $402.54, also on August 6, 2026. Rachna Khosla sold 3,252 shares valued at about $1,346,499 on August 13, 2026.
Analysts Set New Price Targets
On October 12, 2026, BMO Capital maintained a Market Perform rating with a price target of $415.00, while Wells Fargo kept its Equal-Weight rating at a target of $430.00. Barclays also maintained an Equal-Weight rating, raising its target to $400.00 on October 21, 2026. Oppenheimer maintained an Outperform rating with a target of $480.00 on October 23, 2026.
About Amgen
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company operates in the healthcare sector, specifically within the drug manufacturing industry, and has a significant market presence with a market cap of approximately $240.4 billion.
Bottom Line
Investors should keep an eye on Amgen's upcoming earnings report on November 3, 2026, and watch for any further institutional filings that could impact its stock performance. The recent boost by Penobscot highlights ongoing interest in the company as it navigates the market landscape.
Related Filing Alerts
Source: Penobscot Investment Management Company's 13F filing on $AMGN (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts