Sumitomo Mitsui Trust Group Inc. Decreases Stake in Amgen Inc. $AMGN

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,537,964 shares of the medical research company’s stock after selling 74,404 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Amgen were worth $541,133,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. raised its holdings in Amgen by 2.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 176,626 shares of the medical research company’s stock valued at $62,052,000 after acquiring an additional 3,704 shares in the last quarter. WPG Advisers LLC grew its holdings in Amgen by 16.9% during the 1st quarter. WPG Advisers LLC now owns 221 shares of the medical research company’s stock worth $78,000 after acquiring an additional 32 shares in the last quarter. Austin Asset Management Co Inc acquired a new position in Amgen during the 1st quarter worth approximately $221,000. CFS Investment Advisory Services LLC increased its position in shares of Amgen by 1.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 9,373 shares of the medical research company’s stock valued at $3,330,000 after purchasing an additional 138 shares during the last quarter. Finally, W Advisors LLC purchased a new stake in shares of Amgen in the 1st quarter valued at approximately $210,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Truist raised its price target on Amgen to $340 while keeping a hold rating, and Cantor Fitzgerald reaffirmed a neutral view, signaling that analysts still see value in the name even after the recent run-up. Benzinga analyst update
• Positive Sentiment: Biotech sentiment got a lift after Jim Cramer called the group “the hottest in the market,” citing a potentially stronger M&A environment that could benefit large-cap players like Amgen. Cramer biotech commentary
• Neutral Sentiment: Amgen’s dividend drew fresh attention, with an article arguing the payout still appears supported, but near-term headwinds could limit upside until operational concerns fade. Dividend safety article
• Negative Sentiment: Amgen initiated voluntary nationwide recalls of certain Corlanor and Sensipar lots due to foreign substances and CGMP deviations, raising quality-control and compliance concerns for investors. Recall coverage
• Negative Sentiment: Repeated recall headlines are putting Amgen’s manufacturing standards and risk profile back in focus, which could pressure the stock despite earlier momentum. Valuation and recall story
• Negative Sentiment: While Amgen won a preliminary injunction blocking Colorado’s proposed 70% price cap on Enbrel, that legal fight underscores ongoing pricing risk for one of its key drugs. Enbrel pricing article

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Truist Financial lifted their price objective on shares of Amgen from $327.00 to $340.00 and gave the stock a “hold” rating in a research report on Tuesday. Canaccord Genuity Group initiated coverage on Amgen in a report on Monday, April 20th. They issued a “hold” rating and a $366.00 target price on the stock. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Daiwa Securities Group decreased their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $355.73.

Amgen Trading Down 0.0%

Shares of Amgen stock opened at $367.99 on Thursday. The company has a fifty day simple moving average of $343.82 and a 200-day simple moving average of $348.97. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29. 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 $198.61 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 3.63 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm posted $4.90 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.35 EPS for the current fiscal year.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

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.