State of Michigan Retirement System Sells 4,600 Shares of Amgen Inc. $AMGN

Key Points

• State of Michigan Retirement System trimmed its stake in Amgen by 3.2%, selling 4,600 shares and leaving 140,997 shares valued at about $46.15 million.
• Amgen beat quarterly expectations, reporting $5.29 EPS versus $4.76 expected and $9.87 billion in revenue (up 8.6% year‑over‑year), and set FY2026 EPS guidance of 21.600–23.000 (analysts expect ~22.16).
• Amgen declared a $2.52 quarterly dividend (annualized $10.08, yield ~2.9%), while institutional ownership is ~76.5% and the analyst consensus is a "Hold" with a $356.62 consensus target price.

State of Michigan Retirement System trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,997 shares of the medical research company's stock after selling 4,600 shares during the period. State of Michigan Retirement System's holdings in Amgen were worth $46,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. grew its position in shares of Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after acquiring an additional 961,975 shares during the period. Capital International Investors increased its stake in shares of Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock worth $5,414,296,000 after purchasing an additional 282,219 shares during the last quarter. Capital World Investors raised its holdings in shares of Amgen by 11.5% in 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 purchasing an additional 1,935,876 shares during the period. Capital Research Global Investors lifted its stake in Amgen by 2.7% in the 3rd quarter. Capital Research Global Investors now owns 4,731,290 shares of the medical research company's stock valued at $1,335,168,000 after purchasing an additional 122,631 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Amgen by 6.6% in the 3rd quarter. Invesco Ltd. now owns 4,467,287 shares of the medical research company's stock valued at $1,260,668,000 after purchasing an additional 277,031 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Amgen stock opened at $344.55 on Monday. The company's 50-day moving average price is $360.74 and its two-hundred day moving average price is $339.77. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78. The stock has a market cap of $185.95 billion, a P/E ratio of 24.21, a P/E/G ratio of 3.60 and a beta of 0.47. Amgen Inc. has a twelve month low of $261.43 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.76 by $0.53. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The company had revenue of $9.87 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same quarter in the previous year, the company posted $5.31 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, analysts expect that Amgen Inc. will post 22.16 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a $2.52 dividend. The ex-dividend date is Friday, May 15th. This represents a $10.08 annualized dividend and a yield of 2.9%. Amgen's payout ratio is 70.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMGN shares. Piper Sandler boosted their price target on Amgen from $381.00 to $432.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Royal Bank Of Canada raised their price objective on Amgen from $360.00 to $370.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, February 5th. Truist Financial boosted their target price on Amgen from $318.00 to $319.00 and gave the stock a "hold" rating in a report on Thursday, January 8th. Finally, Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $356.62.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported completion of an early Phase 1/2 MTAP‑null cancer combination study — a clinical milestone that can de‑risk a development program and supports longer‑term oncology pipeline value. Company Study Completion
• Positive Sentiment: Guggenheim nudged its price target on AMGN to $351 (maintaining a Neutral rating), which signals modest analyst upside versus the stock’s trading range and can provide short‑term support. Guggenheim PT Update
• Neutral Sentiment: Amgen confirmed it will report Q1 2026 results after the market close on April 30 and will host a webcast — an obvious near‑term volatility driver as investors adjust positions into the print. Q1 Webcast
• Neutral Sentiment: Legislation (H.R. 8203) expanding workforce and treatment funding for substance use disorders was introduced; Amgen is listed among relevant healthcare companies — this is a longer‑horizon policy item that could modestly affect labor/training dynamics but is unlikely to move the stock immediately. H.R.8203 Bill
• Negative Sentiment: Pre‑earnings previews from Zacks and Yahoo Finance suggest AMGN may report a decline in Q1 earnings (reducing the odds of an earnings beat), which increases downside risk into the report. Earnings Preview
• Negative Sentiment: Insiders sold roughly US$4.1M of Amgen stock over the past year — sizable insider selling can be perceived as a cautionary signal by some investors. Insider Selling
• Neutral Sentiment: Amgen announced the planned retirement of EVP & Chief Technology Officer David M. Reese effective June 30, 2026, with a strategic leadership realignment — a governance event to watch, but presented as orderly and planned. CTO Retirement

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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