Gabelli Funds LLC Reduces Position in Amgen Inc. $AMGN

Gabelli Funds LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,700 shares of the medical research company’s stock after selling 1,465 shares during the quarter. Gabelli Funds LLC’s holdings in Amgen were worth $20,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Anfield Capital Management LLC raised its holdings in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Dogwood Wealth Management LLC grew its holdings in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after acquiring an additional 55 shares in the last quarter. Tower View Wealth Management LLC increased its position in shares of Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC increased its position in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in shares of Amgen in the 4th quarter worth about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Daiwa Securities Group lowered their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Scotiabank upped their price objective on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein upped their price objective on Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Finally, Argus increased their target price on Amgen from $375.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $380.43.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction 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 sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last quarter. Insiders own 0.85% of the company’s stock.

Amgen Trading Up 1.3%

Amgen stock opened at $439.33 on Friday. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $443.20. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $237.52 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 3.17 and a beta of 0.41. The firm has a 50-day moving average price of $379.03 and a two-hundred day moving average price of $361.95.

Amgen (NASDAQ:AMGN) last released its quarterly 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 company had revenue of $10.05 billion during 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 company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s payout ratio is presently 62.65%.

Key Headlines Impacting Amgen

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.

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.