State Street Corp Increases Position in Amgen Inc. $AMGN

Key Points

• State Street increased its Amgen stake by 38.2% in the second quarter, bringing its holdings to 42.2 million shares valued at approximately $15.3 billion. Institutional investors collectively own 76.5% of the company.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted EPS and $10.05 billion in revenue, with revenue up 9.5% year over year. The company also announced a $2.52 quarterly dividend, equivalent to a 2.5% annual yield.
• Analysts maintain a consensus “Hold” rating with a $381.32 target price, while Amgen’s experimental autoimmune-disease drug met its late-stage trial goal, potentially strengthening the company’s future pipeline.

State Street Corp raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 38.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,205,243 shares of the medical research company's stock after purchasing an additional 11,656,755 shares during the period. State Street Corp owned 7.81% of Amgen worth $15,283,363,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its stake in Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the last quarter. Capital World Investors grew its stake in shares of Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares in the last quarter. Norges Bank bought a new position in shares of Amgen during the fourth quarter valued at $2,164,162,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Amgen by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock worth $1,952,156,000 after purchasing an additional 605,928 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock traded up $13.88 during trading hours on Tuesday, reaching $407.04. The company had a trading volume of 1,942,605 shares, compared to its average volume of 2,746,573. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The business has a fifty day moving average price of $402.42 and a 200-day moving average price of $367.80. Amgen Inc. has a one year low of $269.77 and a one year high of $447.03. The firm has a market cap of $220.06 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.78 and a beta of 0.43.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the firm earned $6.02 earnings per share. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts predict that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, August 21st. Amgen's dividend payout ratio (DPR) is 62.65%.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. TD Cowen increased their price objective on shares of Amgen from $420.00 to $452.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating and issued a $362.00 target price on shares of Amgen in a report on Wednesday, August 19th. Mizuho upped their target price on shares of Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 18th. Robert W. Baird increased their price target on shares of Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. Finally, Bank of America raised their price target on shares of Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus target price of $381.32.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its experimental autoimmune-disease drug achieved the main goal in a late-stage trial by reducing disease activity. The treatment targets a condition that attacks the body’s moisture-producing glands. The successful result could strengthen Amgen’s pipeline and support the drug’s prospects for regulatory approval and future revenue. Amgen's autoimmune drug succeeds in late-stage trial
• Positive Sentiment: Amgen’s recent quarterly results exceeded expectations, with earnings per share of $6.29 versus the $5.62 consensus estimate and revenue of $10.05 billion versus forecasts of $9.43 billion. Revenue rose 9.5% year over year, supporting investor confidence in the company’s operating performance and 2026 outlook.
• Neutral Sentiment: Veeva Systems expanded its long-standing partnership with Amgen through plans for a global rollout of Vault CRM. The agreement highlights Amgen’s continued investment in commercial infrastructure, but the financial impact on Amgen is not specified. Veeva Expands Amgen Partnership With Global Vault CRM Rollout Plan
• Neutral Sentiment: A report on the growing PEGylated-protein market identified Amgen among companies positioned to benefit from demand for longer-acting biologics, chronic-disease treatments and biosimilars. However, the report is industrywide and does not announce a specific Amgen contract or financial forecast. Capitalize on the PEGylated Proteins Revenue Shift
• Negative Sentiment: Erste Group Bank slightly reduced its fiscal 2027 EPS forecast for Amgen to $24.36 from $24.43. The change is minor and remains above the broader current-year consensus estimate of $22.94, limiting its negative significance.

Insider Buying and Selling at Amgen

In related news, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,222 shares of company stock valued at $2,540,926 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

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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