AIA Group Ltd Grows Stake in Amgen Inc. $AMGN

Key Points

• AIA Group Ltd increased its stake in Amgen by 11.2% in the first quarter, adding 2,815 shares and bringing its total holding to 27,962 shares worth about $9.84 million.
• Amgen continues to attract mixed analyst views: several firms maintained or upgraded ratings, but the stock’s consensus remains “Hold” with an average price target of $356.62.
• The company recently posted better-than-expected quarterly earnings, but its pipeline has faced setbacks, including the halting of a late-stage gastric cancer trial and a Phase 3 eczema study.

AIA Group Ltd increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,962 shares of the medical research company's stock after purchasing an additional 2,815 shares during the quarter. AIA Group Ltd's holdings in Amgen were worth $9,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC grew its holdings in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Amgen in the 4th quarter valued at about $26,000. Tower View Wealth Management LLC boosted its position in shares of Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares during the period. Finally, Manning & Napier Advisors LLC boosted its position in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on AMGN shares. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a report on Tuesday, May 5th. Canaccord Genuity Group began coverage on shares of Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 price target for the company. Finally, Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and an average target price of $356.62.

Amgen Trading Down 1.4%

Shares of AMGN opened at $366.29 on Friday. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $391.29. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The firm has a market capitalization of $197.69 billion, a P/E ratio of 25.49, a PEG ratio of 3.71 and a beta of 0.41. The firm's 50-day moving average is $347.69 and its two-hundred day moving average is $350.38.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter last year, the business posted $4.90 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, research analysts predict that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.85% of the company's stock.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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