Harvest Portfolios Group Inc. Lowers Stock Position in Amgen Inc. $AMGN

Key Points

• Harvest Portfolios Group trimmed its Amgen stake by 3.7% in the fourth quarter, selling 7,517 shares and ending with 197,357 shares valued at about $64.6 million.
• Amgen reported strong quarterly results, with EPS of $5.15 beating estimates and revenue of $8.62 billion slightly topping expectations; the company also lifted its FY2026 guidance to 21.7–23.1 EPS.
• The company is returning cash to shareholders with a quarterly dividend of $2.52 per share and a 3.0% annualized yield, while analyst sentiment remains mixed with a consensus Hold rating and an average target price of $356.15.

Harvest Portfolios Group Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 197,357 shares of the medical research company's stock after selling 7,517 shares during the period. Amgen comprises 1.1% of Harvest Portfolios Group Inc.'s holdings, making the stock its 23rd biggest position. Harvest Portfolios Group Inc.'s holdings in Amgen were worth $64,597,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Dogwood Wealth Management LLC boosted its position in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares in the last quarter. Anfield Capital Management LLC boosted its position 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 valued at $25,000 after purchasing an additional 70 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in Amgen during the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its position in Amgen by 49.2% during 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, Olistico Wealth LLC bought a new stake in Amgen during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by company insiders.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen announced a planned CFO transition, with Peter Griffith retiring and Thomas Dittrich returning to the company to succeed him. A well-telegraphed succession plan can reduce uncertainty around finance leadership and is typically viewed as a stability signal. AMGEN ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER PETER GRIFFITH
• Neutral Sentiment: Amgen also named an analyst report in the news flow, along with Piper Sandler trimming its price target while keeping an Overweight rating. That suggests continued long-term optimism, but the target cut is a modest headwind rather than a major catalyst. Amgen (AMGN) Gets Price Target Cut at Piper Sandler Despite Long-Term Growth Optimism
• Negative Sentiment: Separately, Amgen’s kidney disease drug Tavneos faced renewed scrutiny in Japan, where partner Kissei urged doctors to use caution and avoid starting new patients amid safety and regulatory concerns. Headlines like this can pressure sentiment because they raise questions about the product’s commercial trajectory and safety profile. Amgen Japanese Partner Urges Caution On Tavneos Use

Amgen Price Performance

Shares of NASDAQ AMGN opened at $330.75 on Wednesday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The company has a market cap of $178.50 billion, a PE ratio of 23.02, a P/E/G ratio of 3.26 and a beta of 0.44. The business has a 50-day simple moving average of $347.53 and a two-hundred day simple moving average of $343.86. Amgen Inc. has a fifty-two week low of $267.83 and a fifty-two week high of $391.29.

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 for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities analysts expect that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued 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 dividend yield of 3.0%. Amgen's payout ratio is 70.15%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. Oppenheimer set a $400.00 price objective on Amgen and gave the company an "outperform" rating in a research report on Thursday, January 29th. TD Cowen reissued a "buy" rating on shares of Amgen in a research report on Wednesday, February 4th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Royal Bank Of Canada increased their target price on shares of Amgen from $360.00 to $370.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $356.15.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.