Bank of Nova Scotia Sells 158,139 Shares of Amgen Inc. $AMGN

Key Points

• Bank of Nova Scotia cut its Amgen stake by 50.3% in the second quarter, selling 158,139 shares and retaining 156,088 shares valued at approximately $56.5 million.
• Amgen reported stronger-than-expected quarterly results, with $6.29 in earnings per share and $10.05 billion in revenue, up 9.5% year over year. The company also declared a quarterly dividend of $2.52 per share, equivalent to a 2.3% annualized yield.
• Amgen shares were trading near their 52-week high, while analyst sentiment remained mixed: the average rating was “Hold,” despite several analysts raising price targets and maintaining bullish views.

Bank of Nova Scotia cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 50.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,088 shares of the medical research company's stock after selling 158,139 shares during the quarter. Bank of Nova Scotia's holdings in Amgen were worth $56,521,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Anfield Capital Management LLC boosted its stake in 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 in the last quarter. Dogwood Wealth Management LLC lifted its position in Amgen by 275.0% during 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 in the last quarter. Tower View Wealth Management LLC lifted 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 in the last quarter. Manning & Napier Advisors LLC grew its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after acquiring an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in Amgen during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. Insiders own 0.85% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $439.33 on Friday. The stock has a market cap of $237.52 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. The stock has a 50-day moving average of $379.03 and a 200-day moving average of $361.95. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a one year low of $269.77 and a one year high of $443.20.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. 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 currently 62.65%.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Solid operating performance and dividend support the valuation. Amgen’s second-quarter results exceeded expectations, with revenue rising year over year and earnings per share topping consensus. Continued growth and the company’s dividend are helping support investor confidence. Amgen stock holds close to record high as Q2 2026 growth and dividend support valuation
• Positive Sentiment: Analysts raised their outlook. Argus increased its price target to $460 from $375 while maintaining a Buy rating, citing the latest quarterly performance and progress across Amgen’s drug portfolio. Separate reports also highlighted favorable forecasts from Mizuho and Cantor Fitzgerald, reinforcing the bullish analyst sentiment. Amgen gets a fresh target
• Positive Sentiment: Tarlatamab development advanced. Amgen’s Phase 3 DeLLphi-315 study is evaluating a subcutaneous injection of tarlatamab against the current intravenous infusion approach in lung cancer. A successful shot formulation could improve convenience and broaden the commercial potential of the drug. Amgen advances tarlatamab shot versus infusion in Phase 3 lung cancer study
• Positive Sentiment: Trading momentum and options activity were unusually strong. Amgen was identified as a momentum stock after a substantial recent share-price rally, while call-option volume surged well above typical levels, suggesting increased bullish positioning.
• Neutral Sentiment: Valuation is becoming a consideration. With the stock near its recent high and analysts raising targets, some commentary questioned whether much of the favorable news is already reflected in the share price, which could limit near-term upside.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research analyst reports. Argus boosted their target price on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a research note on Wednesday. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. Truist Financial raised their price target on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, Piper Sandler upped their price objective on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $380.43.

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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