Bank of New York Mellon Corp Reduces Holdings in Amgen Inc. $AMGN

Bank of New York Mellon Corp reduced its position in Amgen Inc. (NASDAQ:AMGN) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 3,793,443 shares of the medical research company’s stock after selling 113,573 shares during the quarter. Bank of New York Mellon Corp’s holdings in Amgen were worth $1,334,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anfield Capital Management LLC boosted its holdings in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Dogwood Wealth Management LLC increased its holdings in shares of Amgen by 275.0% in 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 during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $26,000. Tower View Wealth Management LLC lifted its position in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted 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 worth $32,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AMGN shares. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Erste Group Bank reissued a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. UBS Group upped their price objective on shares of Amgen from $400.00 to $420.00 and gave the company a “buy” rating in a report on Monday. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $400.00 target price on shares of Amgen in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $356.62.

Amgen Stock Performance

NASDAQ AMGN opened at $358.32 on Thursday. The stock has a fifty day simple moving average of $346.15 and a 200-day simple moving average of $350.00. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock has a market cap of $193.39 billion, a PE ratio of 24.94, a P/E/G ratio of 3.59 and a beta of 0.41. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the firm posted $4.90 earnings per share. Amgen’s revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen Inc. will post 22.31 earnings per share for the current year.

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.