Fulton Bank Trims Amgen Stake Despite Strong Earnings Beat

Key Facts

1Fulton Bank N.A. decreased its stake in Amgen Inc. by 16.4% during the first quarter of 2026.

2Amgen surpassed analyst expectations with an adjusted EPS of $5.15 and revenues of $8.62 billion.

Reflecting a strategic rebalancing within major healthcare portfolios, Fulton Bank N.A. decreased its stake in Amgen Inc. by 16.4% during the first quarter of 2026. The bank sold 2,853 shares, leaving it with a remaining position of 14,566 shares valued at approximately $5.1 million. This reduction occurred despite Amgen surpassing analyst expectations with an adjusted EPS of $5.15 and robust revenues of $8.62 billion.

These institutional adjustments come amid a period of mixed flows in the biotechnology sector, though Amgen maintains a high level of institutional ownership at 76.50%. Per market data, peers such as Gilead Sciences and Regeneron have shown relative stability during the same timeframe. Analysts suggest that Fulton's move likely represents routine profit-taking following Amgen's strong quarterly performance and revenue beat.

Traders should monitor current price levels as AMGN closed at $361.33 on July 1, 2026, after hitting a session high of $364. Looking ahead, healthcare sentiment may be influenced by upcoming US economic catalysts, specifically the Core PCE Price Index data, which remains a critical indicator for broader market valuations and sector-specific financing costs.