Gabelli Funds LLC Lowers Stock Holdings in Amgen Inc. $AMGN

Gabelli Funds LLC trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,700 shares of the medical research company’s stock after selling 1,465 shares during the period. Gabelli Funds LLC’s holdings in Amgen were worth $20,170,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Amgen during the fourth quarter worth about $2,164,162,000. Capital World Investors boosted its holdings in Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. BlackRock Inc. boosted its holdings in Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp increased its position in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Finally, Geode Capital Management LLC increased its position in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Solid operating performance and dividend support the valuation. Amgen’s second-quarter results exceeded expectations, with revenue rising year over year and earnings per share topping consensus. Continued growth and the company’s dividend are helping support investor confidence. Amgen stock holds close to record high as Q2 2026 growth and dividend support valuation
• Positive Sentiment: Analysts raised their outlook. Argus increased its price target to $460 from $375 while maintaining a Buy rating, citing the latest quarterly performance and progress across Amgen’s drug portfolio. Separate reports also highlighted favorable forecasts from Mizuho and Cantor Fitzgerald, reinforcing the bullish analyst sentiment. Amgen gets a fresh target
• Positive Sentiment: Tarlatamab development advanced. Amgen’s Phase 3 DeLLphi-315 study is evaluating a subcutaneous injection of tarlatamab against the current intravenous infusion approach in lung cancer. A successful shot formulation could improve convenience and broaden the commercial potential of the drug. Amgen advances tarlatamab shot versus infusion in Phase 3 lung cancer study
• Positive Sentiment: Trading momentum and options activity were unusually strong. Amgen was identified as a momentum stock after a substantial recent share-price rally, while call-option volume surged well above typical levels, suggesting increased bullish positioning.
• Neutral Sentiment: Valuation is becoming a consideration. With the stock near its recent high and analysts raising targets, some commentary questioned whether much of the favorable news is already reflected in the share price, which could limit near-term upside.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMGN shares. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Scotiabank upped their price objective on Amgen from $385.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. TD Cowen increased their price objective on Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Amgen from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $380.43.

Amgen Stock Up 1.3%

Shares of NASDAQ AMGN opened at $439.33 on Friday. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $443.20. The company has a market capitalization of $237.52 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The firm’s 50-day moving average is $379.03 and its two-hundred day moving average is $361.95.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates 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%.Amgen’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts anticipate that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. Amgen’s dividend payout ratio is currently 62.65%.

Insider Activity

In other news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred 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 owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Amgen 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.