PNC Financial Services Group Inc. Has $343.34 Million Stock Position in Amgen Inc. $AMGN

PNC Financial Services Group Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN) by 5.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,048,963 shares of the medical research company’s stock after selling 66,305 shares during the period. PNC Financial Services Group Inc.’s holdings in Amgen were worth $343,336,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AMGN. Robeco Institutional Asset Management B.V. raised its holdings in Amgen by 10.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after acquiring an additional 43,884 shares during the period. Curtis Advisory Group LLC acquired a new stake in shares of Amgen in the 4th quarter valued at $1,669,000. Jones Financial Companies Lllp boosted its holdings in shares of Amgen by 18.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 39,778 shares of the medical research company’s stock valued at $10,888,000 after purchasing an additional 6,115 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Amgen by 8.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 591,891 shares of the medical research company’s stock valued at $167,032,000 after purchasing an additional 47,958 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. acquired a new stake in Amgen in the third quarter valued at approximately $2,624,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen News Roundup

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 Stock Performance

NASDAQ AMGN opened at $330.75 on Wednesday. Amgen Inc. has a 1 year low of $267.83 and a 1 year high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The stock has a market capitalization 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 company’s 50 day simple moving average is $347.53 and its two-hundred day simple moving average is $343.86.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) 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 business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period in the prior year, the company posted $4.90 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts predict that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders 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 3.0%. Amgen’s dividend payout ratio is currently 70.15%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Oppenheimer set a $400.00 target price on shares of Amgen and gave the company an “outperform” rating in a research report on Thursday, January 29th. UBS Group increased their target price on shares of Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Rothschild & Co Redburn increased their target price on shares of Amgen from $180.00 to $200.00 and gave the company a “sell” rating in a research report on Wednesday, February 18th. Wells Fargo & Company upped their price target on shares of Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Finally, Erste Group Bank restated a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $356.15.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’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 owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.

Amgen Company Profile

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.