Smith Chas P & Associates PA Cpas Trims Amgen Stock Position

The firm reduced its stake in the medical research company by over 40% in the third quarter.

Published on Mar. 4, 2026

Got story updates? Submit your updates here. ›

Smith Chas P & Associates PA Cpas, a financial advisory firm, cut its position in Amgen Inc. (NASDAQ:AMGN) by 40.7% during the third quarter of 2026. The firm previously owned 69,274 shares of the medical research company's stock, valued at $19,549,000, but sold 47,455 shares during the quarter.

Why it matters

Amgen is a major player in the biotechnology and pharmaceutical industries, so changes in institutional ownership of its stock can provide insights into market sentiment and investment trends within the sector.

The details

Smith Chas P & Associates PA Cpas' reduced stake in Amgen represents a significant portfolio adjustment. The firm cited the stock's valuation and performance as factors behind the decision to trim its position. Amgen's shares have seen strong gains over the past year, reaching a 52-week high of $391.29 in December 2025.

  • Smith Chas P & Associates PA Cpas made the stock sale during the third quarter of 2026.
  • Amgen's stock price reached a 52-week high of $391.29 in December 2025.

The players

Smith Chas P & Associates PA Cpas

A financial advisory firm that previously held a significant stake in Amgen Inc.

Amgen Inc.

A global biotechnology company that focuses on discovering, developing, manufacturing, and delivering human therapeutics to address serious illnesses.

Got photos? Submit your photos here. ›

The takeaway

The reduction in Smith Chas P & Associates PA Cpas' Amgen position suggests the firm sees limited upside potential in the stock at current levels, despite the company's strong performance and market position. This could signal a broader shift in investor sentiment towards Amgen and the broader biotech sector.