SteelPeak Wealth 13F: Cuts Amgen (AMGN) Stake by $29M
SteelPeak Wealth has trimmed its position in Amgen Inc. by over 68,000 shares in its latest 13F filing.
Reviewed by automated data checks against the source filing. How we make and check alerts
SteelPeak Wealth sold 68,633 shares from its stake in Amgen Inc. ($AMGN), a 36.35% decrease, according to a 13F filing with the SEC dated October 16, 2026. It reported 120,157 shares worth $50.65 million at the end of the quarter.
Find the original: SteelPeak Wealth 13F filings on SEC EDGAR
AMGN
Amgen Inc.
Key Points
- SteelPeak Wealth cut its stake in Amgen Inc. by 68,633 shares, reducing its total to 120,157 shares valued at approximately $50.6 million.
- As of October 16, 2026, Amgen shares were recently trading around $432.06, above their 50-day and 200-day moving averages.
- The company is set to report earnings on November 3, 2026, and analysts currently maintain a consensus hold rating on the stock.
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SteelPeak Wealth reduced its stake in Amgen Inc. (NasdaqGS: AMGN) by 68,633 shares, cutting its total from 188,790 to 120,157 shares. This change represents a 36.4% decrease, bringing the value of its holdings to approximately $50.6 million in a filing on October 16, 2026.
What Changed in SteelPeak Wealth's Amgen Position
SteelPeak's move reflects a significant reduction in its investment in Amgen. The fund now holds 120,157 shares after the cut, which is a notable adjustment from its previous position of 188,790 shares.
Other Institutional Activity in Amgen
Other funds have also made changes to their positions in Amgen. Blackrock Inc. grew its holdings by 2,260,856 shares, ending up with 49,362,016 shares valued at about $21.35 billion. Vanguard Capital Management LLC added 234,604 shares for a total of 35,250,101 shares worth approximately $15.25 billion. State Street Corporation maintained its position with 30,560,537 shares valued at around $13.22 billion.
Amgen Inc. Stock Up 1.4%
Amgen shares were recently trading around $432.06, which is above both the 50-day moving average of $414.46 and the 200-day moving average of $368.38. However, they are about 3.3% below the 52-week high of $447.03, while remaining 50% above the 52-week low of $288.00. The stock is also trading about 9.4% above the target mean price of $394.98 set by analysts.
Recent Earnings
Amgen reported trailing-twelve-month revenue of approximately $38.1 billion with a net margin of 23.0% and an earnings per share (EPS) of $16.1. The next earnings date is set for November 3, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 6.1%. Revenue missed estimates by 1.5%.
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Profit surprise
EBITDA missed by 45 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 2 target cuts.
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Earnings quality
Gross margin up 4.6 points. Operating margin up 16.5 points. Positive free cash flow.
Earnings Call Summary
Amgen had a strong first quarter with earnings per share of 5.15 dollars beating expectations of 4.73 dollars. Six key medicines grew sales by 24 percent year over year and now make up 70 percent of total sales. The obesity drug Meritide is advancing well in late-stage testing with new studies showing better tolerance when patients take it less frequently, potentially every eight to twelve weeks instead of weekly injections.
Guidance Amgen raised its 2026 outlook to revenue between 37.1 billion and 38.5 billion dollars, and earnings per share between 21.70 and 23.10 dollars. The company expects its fast-growing medicines like Repatha and Evenity to offset patent losses. Management said capital spending will remain at about 2.6 billion dollars to scale manufacturing for new drug launches.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Insider Buying and Selling at Amgen Inc.
Several insiders have sold shares recently. Officer Nancy A Grygiel sold 2,970 shares at an average price of $402.16 on August 6, 2026, totaling about $1.19 million. Officer Derek Miller sold 3,890 shares at an average price of $402.54 on the same date for around $1.57 million. Officer Rachna Khosla also sold 3,252 shares on August 13, 2026, valued at approximately $1.35 million.
Analysts Set New Price Targets
Analysts remain optimistic on Amgen, with several firms maintaining their ratings. On October 8, 2026, RBC Capital maintained an Outperform rating with a price target of $430.00. UBS also maintained a Buy rating, raising its target to $470.00 on October 9. BMO Capital, Wells Fargo, and Guggenheim also confirmed their ratings with price targets ranging from $378.00 to $415.00.
About Amgen
Amgen Inc. is a biotechnology company based in Thousand Oaks, California. It focuses on the discovery, development, manufacturing, and delivery of human therapeutics worldwide. The company's efforts in the healthcare sector are significant, as reflected in its strong revenue growth and profitability.
Bottom Line
SteelPeak Wealth's recent move to cut its stake in Amgen may indicate a shift in strategy for the fund. Investors should note that 13F filings are backward-looking and may not represent current positions. Keep an eye on Amgen's upcoming earnings report on November 3, 2026, and the stock's performance in relation to analysts' targets.
Related Filing Alerts
Source: SteelPeak Wealth's 13F filing on $AMGN (Oct 16, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: SteelPeak Wealth 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts