Bank of New York Mellon Corp Sells 97,857 Shares of Amgen Inc. $AMGN

Key Points

• Bank of New York Mellon reduced its Amgen stake by 2.6%, selling 97,857 shares and retaining 3.70 million shares valued at approximately $1.34 billion. Institutional investors collectively own 76.5% of Amgen.
• Analysts raised several price targets, including Oppenheimer and TD Cowen, but the overall consensus remains “Hold” with an average target of $380.43.
• Amgen reported quarterly earnings of $6.29 per share and $10.05 billion in revenue, exceeding estimates, while revenue grew 9.5% year over year. The company also declared a quarterly dividend of $2.52, equivalent to a 2.3% annual yield.

Bank of New York Mellon Corp decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,695,586 shares of the medical research company's stock after selling 97,857 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Amgen worth $1,338,246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Adell Harriman & Carpenter Inc. lifted its stake in Amgen by 7.9% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after purchasing an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Amgen in the fourth quarter valued at approximately $22,441,000. Sigma Planning Corp raised its stake in Amgen by 24.0% in the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock valued at $5,889,000 after buying an additional 3,488 shares during the period. National Pension Service lifted its position in shares of Amgen by 4.7% in the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock valued at $405,717,000 after buying an additional 55,489 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of Amgen by 50.5% during the 1st quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock worth $6,664,000 after acquiring an additional 6,356 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research reports. Oppenheimer raised their price target on Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Cantor Fitzgerald lifted their target price on shares of Amgen from $350.00 to $400.00 and gave the stock a "neutral" rating in a report on Tuesday. Mizuho upped their price target on shares of Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research note on Tuesday. TD Cowen increased their price target on shares of Amgen from $420.00 to $452.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Truist Financial raised their price objective on shares of Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $380.43.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Unusually heavy call-option activity points to increased bullish positioning. Investors purchased 79,035 call options, roughly 931% above typical volume, although options activity is speculative and does not guarantee future gains.
• Positive Sentiment: Argus raised its price target from $375 to $460 and upgraded Amgen to “Buy,” adding to the series of favorable analyst views. Argus price target report
• Positive Sentiment: Mizuho and Cantor Fitzgerald analysts also projected further appreciation for Amgen, reinforcing the bullish sentiment around the company’s earnings performance and pipeline. Mizuho Amgen forecast Cantor Fitzgerald Amgen outlook
• Positive Sentiment: Amgen has outperformed several major drugmakers in 2026, attracting investor interest as markets favor profitable pharmaceutical companies even without an obesity-drug franchise. Drugmaker stock performance comparison
• Neutral Sentiment: Biotech ETFs are benefiting from innovation, obesity-drug demand and merger activity, creating a favorable sector backdrop, though the article does not identify a specific new catalyst for Amgen. Biotech ETF growth article
• Negative Sentiment: Industry caution around obesity-drug development is a risk: investors are penalizing undifferentiated programs, and Amgen has reportedly trimmed some early-stage efforts. Obesity drug investment outlook

Amgen Stock Performance

NASDAQ:AMGN opened at $433.73 on Friday. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $443.20. The stock has a fifty day moving average price of $377.35 and a 200-day moving average price of $361.40. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company has a market cap of $234.49 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 4.09 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping 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 company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter in the previous year, the firm earned $6.02 EPS. Amgen's revenue 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, equities analysts anticipate that Amgen Inc. will post 22.89 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's payout ratio is presently 62.65%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company's stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was 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 of the company's stock, valued at $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last three months. 0.85% of the stock is owned by company insiders.

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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