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Amgen Loses Institutional Support as Evolve Private Wealth Cuts Stake

Guavy AI Editorial Team
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AMGN
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Evolve Private Wealth LLC has reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 63.9% in the second quarter, selling 3,508 shares and trimming its holdings to 1,980 shares worth $717,000 as of its most recent SEC filing.

The firm's reduction comes amidst other institutional investors making changes to their positions in Amgen. Adell Harriman & Carpenter Inc. raised its stake by 7.9% during the fourth quarter and now owns 22,008 shares valued at $7,204,000 after buying an additional 1,609 shares.

Amgen's commercial portfolio includes biologics used in oncology, supportive care, nephrology, bone health, and cardiovascular disease. The company has set its FY 2026 guidance at 22.300-23.500 EPS.

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