Amgen Inc. $AMGN Stock Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,970,670 shares of the medical research company's stock after selling 116,919 shares during the period. California Public Employees Retirement System owned about 0.37% of Amgen worth $693,380,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after buying an additional 961,975 shares during the period. State Street Corp raised its position in Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock valued at $10,012,872,000 after buying an additional 1,287,310 shares during the period. Capital World Investors raised its position in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after buying an additional 4,302,237 shares during the period. Geode Capital Management LLC lifted its stake in Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after acquiring an additional 1,035,779 shares in the last quarter. Finally, Norges Bank purchased a new stake in Amgen in the 4th quarter worth about $2,164,162,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Truist Financial lifted their target price on Amgen from $327.00 to $340.00 and gave the company a "hold" rating in a research note on Tuesday, July 7th. Guggenheim increased their price target on shares of Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. BMO Capital Markets restated an "outperform" rating and set a $400.00 price target on shares of Amgen in a report on Wednesday, July 1st. Royal Bank Of Canada reaffirmed a "positive" rating on shares of Amgen in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a research note on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Amgen currently has a consensus rating of "Hold" and an average price target of $356.62.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $366.29 on Friday. The stock has a market capitalization of $197.69 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.41. The business has a 50-day moving average of $347.69 and a two-hundred day moving average of $350.38. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

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

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

Amgen Company 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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