Corient Private Wealth LP Decreases Position in Amgen Inc. $AMGN

Key Points

• Corient Private Wealth LP cut its Amgen stake by 15.3% in the second quarter, selling 84,082 shares and retaining 466,785 shares worth approximately $169.1 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly adjusted EPS of $6.29 and revenue of $10.05 billion, beating analyst estimates, while revenue rose 9.5% year over year. The company also declared a quarterly dividend of $2.52 per share, representing a 2.7% annualized yield.
• Despite positive developments for its oncology and cardiovascular pipelines, Amgen faces pressure from biosimilar competition, heavy put-option activity and broader concerns after a disappointing Novartis cholesterol-drug trial. Analysts maintain a consensus “Hold” rating with a $381.68 price target.

Corient Private Wealth LP lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 466,785 shares of the medical research company's stock after selling 84,082 shares during the period. Corient Private Wealth LP owned about 0.09% of Amgen worth $169,056,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC grew its position in shares of 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 during the period. Evergreen Advisors LLC acquired a new stake in shares of Amgen in the first quarter worth approximately $37,000. Sfam LLC purchased a new stake in Amgen in the fourth quarter valued at approximately $38,000. Advocate Investing Services LLC purchased a new stake in Amgen in the fourth quarter valued at approximately $39,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Amgen during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: A late-stage study found that combining Amgen’s Imdelltra with AstraZeneca’s Imfinzi significantly improved overall survival for patients with extensive-stage small-cell lung cancer. The results could expand Imdelltra’s use into earlier-line treatment and strengthen Amgen’s oncology growth prospects. AMGN, AZN Drug Combo Shows Survival Benefit in Lung Cancer Study
• Positive Sentiment: Analysts and financial commentators continue to highlight Amgen’s profitability, multi-billion-dollar revenue base, cash generation and growing dividend as advantages over loss-making biotechnology companies such as Revolution Medicines, CRISPR Therapeutics and Moderna. This supports the stock’s appeal to income-oriented and more defensive investors. Amgen vs. Revolution Medicines
• Positive Sentiment: TD Cowen maintained its Buy rating, while another analysis characterized the recent selloff as an opportunity. Amgen also announced a Phase 4 Repatha plaque study, potentially generating additional evidence for the cardiovascular drug’s long-term value. Amgen: Buy the Novartis-Driven Selloff
• Neutral Sentiment: Cantor Fitzgerald reaffirmed a Neutral rating, and Amgen’s Wells Fargo healthcare conference presentation offered investors additional management commentary but no clearly identified major guidance change. Cantor Fitzgerald Reaffirms Neutral Rating
• Negative Sentiment: Amgen sold off after Novartis reported disappointing results for its pelacarsen cholesterol trial. Although pelacarsen is not Amgen’s drug and differs mechanistically from Amgen’s olpasiran and Repatha, the failure raised broader concerns about cardiovascular drug development and temporarily pressured AMGN. Analysts have generally left their price targets intact. Amgen Falls as Novartis Trial Failure Clouds Cholesterol Drug Class
• Negative Sentiment: Unusually heavy put-option activity, with reported purchases far above average, signaled increased near-term hedging or bearish speculation. Investors are also monitoring declining Prolia and XGEVA sales from biosimilar competition and the margin pressure associated with funding MariTide. Amgen Drops on a Trial It Did Not Run

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $400.00 price target on shares of Amgen in a report on Tuesday. Citigroup boosted their price target on Amgen from $345.00 to $405.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Sanford C. Bernstein upped their price target on Amgen from $335.00 to $345.00 and gave the stock a "market perform" rating in a research note on Thursday, August 6th. Truist Financial lifted their price objective on Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $381.68.

Amgen Stock Down 1.3%

AMGN stock opened at $377.35 on Friday. The firm has a market cap of $204.01 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.76 and a beta of 0.43. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $447.03. The firm has a fifty day moving average price of $400.37 and a two-hundred day moving average price of $367.91. 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 (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts predict that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a dividend of $2.52 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen's payout ratio is 62.65%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 6,222 shares of company stock valued at $2,540,926 in the last 90 days. Insiders own 0.85% of the company's stock.

Amgen 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 rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen's medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.

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