Amgen Inc. $AMGN Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Key Points

• Sumitomo Mitsui Trust Group reduced its Amgen position by 2.5% in the third quarter, selling 37,853 shares and retaining 1.48 million shares valued at approximately $625.1 million. Institutional investors still own 76.5% of the company.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, beating analyst estimates, while revenue increased 9.5% year over year. The company maintained fiscal 2026 EPS guidance of $22.30–$23.50.
• The company declared a quarterly dividend of $2.52, equivalent to an annualized $10.08 payout and a 2.2% yield. Analysts remain mixed, with a consensus “Hold” rating and an average price target of $389.71 compared with the stock’s recent price near $466.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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. owned approximately 0.27% of Amgen worth $625,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Rational Advisors Inc. increased its holdings in Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock worth $72,000 after acquiring an additional 24 shares in the last quarter. Beacon Financial Advisory LLC lifted its holdings in Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock valued at $461,000 after purchasing an additional 25 shares in the last quarter. James T. Borello RIA grew its position in shares of Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company's stock valued at $88,000 after purchasing an additional 25 shares during the period. Sweeney & Michel LLC grew its position in shares of Amgen by 0.5% in the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company's stock valued at $2,162,000 after purchasing an additional 25 shares during the period. Finally, Legacy Financial Advisors Inc. grew its position in shares of Amgen by 0.8% in the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock valued at $1,234,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

More Amgen News

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 Stock Performance

NASDAQ:AMGN opened at $466.01 on Friday. The company's 50-day moving average price is $419.96 and its 200-day moving average price is $374.79. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company 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 twelve month low of $288.00 and a twelve month high of $475.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. Amgen's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 22.96 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a $2.52 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. Amgen's dividend payout ratio is currently 62.65%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This trade represents a 16.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank upped their price target on shares of Amgen from $450.00 to $500.00 and gave the stock an "outperform" rating in a research report on Monday, September 28th. Canaccord Genuity Group lifted their price objective on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Wells Fargo & Company lowered their price objective on Amgen from $435.00 to $430.00 and set an "equal weight" rating on the stock in a report on Monday, October 12th. Weiss Ratings upgraded Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $389.71.

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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