Bank of New York Mellon Corp Sells Stake in Amgen Amid Analyst Optimism

Amgen Inc., a global biotechnology company, has seen significant changes in its stock ownership. The Bank of New York Mellon Corp recently sold 97,857 shares of Amgen's stock during the second quarter.

This sale resulted in Bank of New York Mellon Corp decreasing its position in Amgen by 2.6% and owning a total of 3,695,586 shares after the quarterly sale. The company's ownership percentage in Amgen dropped to 0.68%, with their stake being worth $1,338,246,000 at the end of the most recent reporting period.

Despite this change in ownership, several analysts have expressed positive views on Amgen's performance and future prospects. Analysts from Argus raised their price target for Amgen to $460 and upgraded the company to 'Buy', citing the company's strong earnings performance and pipeline. This upgrade is part of a series of favorable analyst views on Amgen.

Amgen has outperformed several major drugmakers in 2026, attracting investor interest as markets favor profitable pharmaceutical companies even without an obesity-drug franchise. The company has also announced a quarterly dividend, with investors of record receiving $2.52 per share on September 11th.