State Street Corp Boosts Stake in Amgen Inc. $AMGN

State Street Corp increased its stake in Amgen Inc. (NASDAQ:AMGN) by 38.2% during the second quarter, Holdings Channel.com reports. The firm owned 42,205,243 shares of the medical research company’s stock after purchasing an additional 11,656,755 shares during the quarter. State Street Corp owned 0.08% of Amgen worth $15,283,363,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Premier Financial Group purchased a new position in Amgen during the second quarter valued at approximately $139,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Amgen in the second quarter worth $36,000. Wellington Altus USA Inc. raised its position in shares of Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 34 shares during the period. U S Wealth Group LLC. raised its position in shares of Amgen by 12.4% during the 2nd quarter. U S Wealth Group LLC. now owns 9,222 shares of the medical research company’s stock valued at $3,340,000 after purchasing an additional 1,018 shares during the period. Finally, Bouchey Financial Group Ltd. lifted its stake in shares of Amgen by 6.2% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,938 shares of the medical research company’s stock valued at $702,000 after buying an additional 113 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. Scotiabank boosted their price objective on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Guggenheim upped their price objective on Amgen from $343.00 to $388.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $400.00 target price on shares of Amgen in a research report on Tuesday, September 8th. Finally, Barclays increased their target price on Amgen from $360.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $381.32.

Amgen Price Performance

Shares of AMGN traded up $13.88 during midday trading on Tuesday, hitting $407.04. 1,942,605 shares of the company traded hands, compared to its average volume of 2,746,573. The stock has a market cap of $220.06 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 2.78 and a beta of 0.43. The firm has a 50 day moving average of $402.42 and a 200-day moving average of $367.80. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $447.03.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts forecast that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.

Key Stories 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 Activity at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 over the last ninety days. Insiders own 0.85% of the company’s stock.

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.