Sumitomo Mitsui Trust Group Inc. decreased its holdings in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,483,024 shares of the medical research company’s stock after selling 37,853 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Amgen were worth $625,109,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in Amgen by 38.2% in the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after purchasing an additional 11,656,755 shares during the period. Bank of America Corp DE acquired a new position in Amgen during the 2nd quarter worth $1,831,903,000. Wellington Management Group LLP increased its holdings in Amgen by 1,102.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after purchasing an additional 2,514,254 shares during the period. BlackRock Inc. increased its holdings in Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Amgen by 702.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock worth $647,126,000 after purchasing an additional 1,344,010 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Amgen Trading Up 1.1%
NASDAQ:AMGN opened at $466.01 on Friday. The stock has a 50-day simple moving average of $419.96 and a 200-day simple moving average of $374.79. The stock has a market cap of $251.94 billion, a P/E ratio of 28.96, a P/E/G ratio of 3.41 and a beta of 0.41. Amgen Inc. has a 1 year low of $288.00 and a 1 year high of $475.65. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the business posted $6.02 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts anticipate that Amgen Inc. will post 22.96 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 11th. Shareholders of record on Friday, November 20th will be paid a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, November 20th. Amgen’s dividend payout ratio is currently 62.65%.
Insider Activity at Amgen
In other news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock worth $2,540,926 over the last quarter. 0.85% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on AMGN shares. Argus lifted their price objective on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. HSBC downgraded Amgen from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. BMO Capital Markets cut their target price on shares of Amgen from $450.00 to $415.00 and set a “market perform” rating on the stock in a research note on Monday, October 12th. Barclays raised their target price on shares of Amgen from $380.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Finally, Morgan Stanley decreased their price target on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus price target of $389.71.
Amgen News Summary
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Dividend support: Amgen’s dividend announcement helped reinforce the stock’s income appeal and contributed to its move to a new 1-year high. Amgen Sets New 1-Year High Following Dividend Announcement
- Positive Sentiment: Analyst endorsement: RBC Capital reaffirmed its Buy rating, providing continued Wall Street support ahead of the earnings release. RBC Capital Reaffirms Buy Rating
- Positive Sentiment: Pipeline and rare-disease progress: New Phase 3 dazodalibep data in Sjögren’s disease, UPLIZNA updates and a rare-disease diagnostic collaboration support Amgen’s longer-term growth narrative beyond its established products. Rare Disease Updates
- Neutral Sentiment: Key near-term catalyst: Amgen will report third-quarter 2026 results after the market close on November 3. The current consensus EPS estimate cited in previews is $5.79, making earnings, guidance and management commentary important tests for the recent rally. Amgen Q3 2026 Preview
- Negative Sentiment: Profitability concerns: Management has warned of rising expenses, while MariTide development is consuming substantial cash. Investors are watching whether growth from Repatha and TEZSPIRE can offset higher costs and protect margins. Amgen Faces Rising Expenses Ahead of Q3 Results
- Negative Sentiment: Valuation and execution risk: A skeptical earnings preview highlights concerns about the CFO transition, spending growth and whether Amgen can meet expectations after a substantial year-to-date advance. Amgen Earnings Preview
Amgen Company Profile
Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.
The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.
Founded in 1980, Amgen is headquartered in Thousand Oaks, California.
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