Amgen Inc. $AMGN Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Amgen stake by 2.9% in the first quarter, selling 113,573 shares and ending with 3.79 million shares valued at about $1.33 billion.
• Amgen’s latest quarterly results topped expectations, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment is mixed but leans cautious: the stock’s consensus rating is Hold with an average price target of $356.62, while several firms recently adjusted their targets and ratings.

Bank of New York Mellon Corp lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,793,443 shares of the medical research company's stock after selling 113,573 shares during the quarter. Bank of New York Mellon Corp owned 0.70% of Amgen worth $1,334,723,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMGN. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after buying an additional 55 shares during the period. Board of the Pension Protection Fund acquired a new position in Amgen in the 4th quarter worth approximately $26,000. Tower View Wealth Management LLC raised its position in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after buying an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC lifted its stake in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Argus dropped their price objective on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Guggenheim boosted their target price on shares of Amgen from $340.00 to $343.00 and gave the company a "neutral" rating in a research report on Monday. BMO Capital Markets reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Amgen in a report on Wednesday, July 1st. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $356.62.

Amgen Stock Performance

AMGN opened at $358.32 on Thursday. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a fifty day moving average price of $346.15 and a 200 day moving average price of $350.00. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29. The stock has a market cap of $193.39 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.59 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Amgen Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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