ICICI Prudential Asset Management Co Ltd Has $8.87 Million Stake in Amgen Inc. $AMGN

Key Points

• ICICI Prudential Asset Management cut its Amgen stake by 16.1% in Q4, selling 5,181 shares and ending with 27,086 shares valued at about $8.87 million.
• Amgen remains widely held by institutions, with investors like Vanguard and Capital World Investors also increasing positions; overall, 76.5% of the stock is owned by institutional investors.
• The company posted solid quarterly results, beating earnings and revenue estimates, while recent updates on Repatha and its obesity/GLP-1 trials support Amgen’s growth outlook despite mixed analyst sentiment.

ICICI Prudential Asset Management Co Ltd reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,086 shares of the medical research company's stock after selling 5,181 shares during the quarter. Amgen comprises about 1.0% of ICICI Prudential Asset Management Co Ltd's portfolio, making the stock its 28th biggest position. ICICI Prudential Asset Management Co Ltd's holdings in Amgen were worth $8,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after purchasing an additional 961,975 shares during the last quarter. Capital World Investors grew its stake in shares of Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. Capital International Investors grew its stake in shares of Amgen by 1.5% during the third quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock valued at $5,414,296,000 after purchasing an additional 282,219 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Amgen during the fourth quarter valued at approximately $2,164,162,000. 76.50% of the stock is owned by institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen presented new Phase 3 VESALIUS-CV data showing Repatha significantly reduced cardiovascular risk in high-risk diabetes patients, strengthening the case for its cardio-metabolic franchise. Here is Why Amgen (AMGN) is One of the Top Large Cap Value Stocks to Buy Now
• Positive Sentiment: Investor coverage remains bullish, with articles highlighting Amgen as a potential value stock and pointing to attractive valuation metrics versus expected earnings growth. Is Amgen Inc. (AMGN) A Good Stock To Buy Now?
• Positive Sentiment: Amgen updated investors on its Phase 3 MARITIME-SWITCH trial, which targets GLP-1 switchers in obesity, supporting its strategy to win share in a rapidly expanding market. Amgen’s MARITIME-SWITCH Trial Targets GLP-1 Switchers in the Growing Obesity Drug Market
• Neutral Sentiment: Several market commentary pieces discussed Amgen as a large-cap value or healthcare exposure idea, but these are mostly sentiment-driven rather than immediate fundamentals. Healthcare ETFs: From Broad Exposure to Big Breakthroughs
• Negative Sentiment: Recent trading-day coverage noted Amgen underperformed the broader market, suggesting some short-term profit-taking or volatility even as the longer-term story improves. Amgen Inc. stock underperforms Wednesday when compared to competitors

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Canaccord Genuity Group assumed coverage on shares of Amgen in a research note on Monday, April 20th. They set a "hold" rating and a $366.00 price target on the stock. Daiwa Securities Group decreased their price target on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Argus decreased their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Finally, Barclays assumed coverage on shares of Amgen in a research note on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $354.12.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm'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 transaction, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.85% of the company's stock.

Amgen Price Performance

Shares of AMGN stock opened at $354.06 on Friday. Amgen Inc. has a 52-week low of $267.83 and a 52-week high of $391.29. The stock has a market cap of $191.09 billion, a PE ratio of 24.64, a PEG ratio of 3.39 and a beta of 0.42. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The firm's 50 day moving average price is $340.94 and its two-hundred day moving average price is $345.65.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same period last year, the firm earned $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. As a group, analysts forecast that Amgen Inc. will post 22.38 EPS for the current year.

Amgen Profile

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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