Bank of America Corp DE Decreases Stake in Amgen Inc. $AMGN

Key Points

• Bank of America reduced its Amgen stake by 7.5% in the first quarter, selling 416,333 shares and retaining 5.12 million shares valued at approximately $1.8 billion. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly EPS of $5.15, beating estimates of $4.77, while revenue rose 5.8% year over year to $8.62 billion. Shares recently traded at $387.64, near the company’s 52-week high.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $357, below the recent share price. Investors are also watching Amgen’s potential growth catalysts, including broader Repatha use and its experimental weight-loss drug.

Bank of America Corp DE lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,121,028 shares of the medical research company's stock after selling 416,333 shares during the period. Bank of America Corp DE owned about 0.95% of Amgen worth $1,801,834,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Dogwood Wealth Management LLC increased its holdings in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Anfield Capital Management LLC lifted its stake in Amgen by 1,000.0% during 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. Tower View Wealth Management LLC boosted its holdings in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC boosted its holdings in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in Amgen in the fourth quarter valued at approximately $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $387.64 on Friday. The stock has a fifty day moving average price of $355.69 and a 200 day moving average price of $353.55. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $398.00. 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 company has a market cap of $209.21 billion, a PE ratio of 26.98, a P/E/G ratio of 3.92 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (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 analysts' expectations of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.90 EPS. Sell-side analysts forecast that Amgen Inc. will post 22.31 EPS for the current year.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Weiss Ratings cut shares of Amgen from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, July 15th. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Morgan Stanley cut their price target on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada reissued a "positive" rating on shares of Amgen in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $357.00.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is currently owned by insiders.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: The European Medicines Agency’s CHMP issued a positive opinion supporting broader use of Amgen’s cholesterol drug Repatha in high-risk adults without a prior heart attack or stroke. The recommendation, based on Phase 3 data showing a significant reduction in major cardiovascular events, could expand Repatha’s addressable market in Europe pending final regulatory approval. Amgen Wins Backing In Europe For Broader Repatha Use
• Positive Sentiment: Amgen declared a quarterly dividend of $2.52 per share, payable September 11 to shareholders of record on August 21. The announcement reinforces the company’s income appeal and signals continued confidence in cash generation. Amgen Announces 2026 Third Quarter Dividend
• Positive Sentiment: Amgen’s experimental monthly weight-loss medicine has six Phase 3 trials underway. Success could give the company a significant entry point into the rapidly growing obesity-drug market and provide a long-term growth catalyst, although the program remains unproven. Amgen Weight-Loss Drug Pipeline
• Neutral Sentiment: Analysts are moderately optimistic after Amgen’s strong longer-term performance, but valuation assessments are mixed: discounted-cash-flow analysis indicates upside, while market multiples appear closer to fair value. Investors are also awaiting further detail on second-quarter operating metrics.
• Negative Sentiment: Barclays maintained an Equal Weight/Hold rating and raised its price target only to $360, below Amgen’s recent trading level. The target implies limited near-term upside and reflects caution after the stock’s sizable advance. Barclays Keeps Hold Rating on Amgen
• Negative Sentiment: Amgen’s obesity-drug ambitions face formidable competition from established Eli Lilly and Novo Nordisk products. Investors may remain cautious until clinical data demonstrate that Amgen’s candidate can compete on efficacy, safety, dosing convenience, and commercialization.

About Amgen

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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