Atlas Private Wealth Advisors reduced its stake in Amgen Inc. (NASDAQ: AMGN) by 35.4% during the third quarter, according to its latest SEC filing. The firm sold 5,075 shares, leaving it with 9,254 shares valued at $3,901,000. Amgen now represents approximately 0.8% of Atlas Private Wealth Advisors' portfolio, making it the 25th largest holding.
Other institutional investors made adjustments to their Amgen positions as well. Signaturefd LLC increased its holdings by 5.5%, now owning 14,861 shares worth $6,264,000. Forbes Financial Planning Inc. grew its stake by 80.6%, holding 616 shares valued at $260,000. McGuire Investment Group LLC raised its holdings by 4.6%, with 13,791 shares worth $5,813,000. Simplicity Wealth LLC boosted its position by 16.8%, now owning 12,305 shares valued at $5,187,000. Carolina Wealth Advisors LLC increased its holdings by 1.2%, with 13,167 shares worth $5,550,000. Institutional investors and hedge funds collectively own 76.5% of Amgen's stock.
Amgen's stock opened at $439.26 on Friday, with a market cap of $237.48 billion. The company reported strong earnings for the quarter ending in August, with $6.29 earnings per share, exceeding estimates by $0.67. Revenue was $10.05 billion, up 9.5% year-over-year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS, with analysts anticipating 22.96 EPS for the current year.
Analysts have mixed views on Amgen. Royal Bank of Canada raised its price target to $430.00 with an "outperform" rating, while Guggenheim lowered its target to $378.00 with a "neutral" rating. TD Cowen increased its target to $452.00 with a "buy" rating, and Mizuho raised its target to $352.00 with a "neutral" rating. Wall Street Zen upgraded Amgen to a "buy" rating. The average price target among analysts is $389.71, with a consensus "hold" rating.