California Public Employees Retirement System Decreases Holdings in Amgen Inc. $AMGN

Key Points

• California Public Employees Retirement System cut its Amgen stake by 8.8% in Q3, selling 202,929 shares and ending the quarter with 2,092,255 shares (about 0.39% of the company) valued at roughly $590.4 million.
• Other institutional activity was notable: Laurel Wealth Advisors massively increased holdings to 6.7 million shares, Norges Bank initiated a ~ $1.66 billion position, and Vanguard and Capital World Investors also added shares, leaving institutions with about 76.5% ownership.
• Analysts carry a consensus "Hold" rating with an average target of $354 (some firms raised targets, e.g., Argus $400, BMO $372), while Amgen reported stronger-than-expected quarterly EPS and revenue, set FY2026 EPS guidance of 21.6–23.0, and declared a $2.52 quarterly dividend (2.8% yield) amid a high debt-to-equity ratio (~5.78) and ~70.8% payout ratio.

California Public Employees Retirement System reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,092,255 shares of the medical research company's stock after selling 202,929 shares during the quarter. California Public Employees Retirement System owned about 0.39% of Amgen worth $590,434,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC lifted its holdings in shares of Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company's stock valued at $1,870,880,000 after purchasing an additional 6,676,575 shares during the last quarter. Norges Bank purchased a new position in Amgen during the 2nd quarter worth $1,663,726,000. Capital World Investors increased its position in Amgen by 11.5% during the 3rd quarter. Capital World Investors now owns 18,795,474 shares of the medical research company's stock valued at $5,303,578,000 after buying an additional 1,935,876 shares in the last quarter. Vanguard Group Inc. increased its position in Amgen by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company's stock valued at $14,996,807,000 after buying an additional 841,117 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Amgen by 5.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company's stock valued at $3,600,043,000 after buying an additional 687,735 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on AMGN. Mizuho raised their price target on Amgen from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. BMO Capital Markets increased their price objective on shares of Amgen from $335.00 to $372.00 and gave the company an "outperform" rating in a research report on Wednesday, December 3rd. Jefferies Financial Group began coverage on shares of Amgen in a research note on Tuesday, March 10th. They issued a "hold" rating and a $350.00 target price for the company. Truist Financial boosted their target price on shares of Amgen from $318.00 to $319.00 and gave the stock a "hold" rating in a research report on Thursday, January 8th. Finally, Argus upped their price target on shares of Amgen from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $354.00.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen will add medicines to the TrumpRx prescription site, which could expand patient access and volume for listed products if uptake follows; this is a near-term distribution win. GSK and Amgen to add medicines to TrumpRx, Fox Business reports
• Positive Sentiment: Product momentum — coverage highlights MariTide and osteoporosis treatments as sales drivers that have helped fuel recent rallies, supporting revenue growth expectations. Amgen: MariTide And Osteoporosis Sales Fuel The Rally
• Positive Sentiment: Institutional demand: Amgen is a notable holding in income-oriented funds, which supports steady shareholder demand given its long dividend track record. Starbucks, Amgen, and CVS Help This Income Fund Shine
• Positive Sentiment: Operational tie-ins: Rapid Micro Biosystems notes Amgen’s expansion of its Growth Direct system rollout — a small but constructive signal of ongoing manufacturing/capacity investments. Rapid Micro Biosystems Reports Record Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Guidance
• Neutral Sentiment: Analyst action: Jefferies issued a Hold on AMGN, a neutral rating that can dampen upside momentum vs. more bullish calls. Amgen NASDAQ: AMGN Earns Hold Rating from Analysts at Jefferies Financial Group
• Neutral Sentiment: Press roundups: Amgen appears in broader mega-cap watchlists and industry write-ups — visibility is high but these pieces are more contextual than catalytic. 2 Mega-Cap Stocks to Keep an Eye On and 1 Facing Headwinds
• Negative Sentiment: Dividend/valuation concerns: Independent analysis flags high debt levels, weaker risk-adjusted returns and questions around dividend attractiveness at current prices — these are potential longer‑term headwinds for the stock’s re-rating. Dividend Stock Analysis - Amgen, Inc.

Amgen Stock Down 0.4%

Amgen stock opened at $366.21 on Friday. The business's 50-day simple moving average is $357.73 and its two-hundred day simple moving average is $325.42. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. The company has a market cap of $197.41 billion, a PE ratio of 25.74, a PEG ratio of 3.63 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.53. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The firm had revenue of $9.87 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same period last year, the business posted $5.31 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a yield of 2.8%. Amgen's dividend payout ratio (DPR) is currently 70.84%.

Amgen 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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