Korea Investment CORP Trims Stake in Amgen Inc. $AMGN

Key Points

• Korea Investment CORP cut its Amgen stake by 14.4% in the fourth quarter, selling 47,606 shares and ending with 282,189 shares valued at about $92.4 million.
• Amgen’s latest quarterly results beat expectations, with EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment remains mixed: the stock carries a Hold consensus with an average price target of $354.12, while recent commentary also highlights both pipeline optimism and regulatory concerns around Tavneos.

Korea Investment CORP lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,189 shares of the medical research company's stock after selling 47,606 shares during the quarter. Korea Investment CORP owned about 0.05% of Amgen worth $92,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. High Note Wealth LLC grew its stake in shares of Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares in the last quarter. TAGStone Capital Inc. grew its stake in shares of Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock worth $1,351,000 after buying an additional 28 shares in the last quarter. Verus Capital Partners LLC grew its stake in shares of Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after buying an additional 28 shares in the last quarter. West Family Investments Inc. grew its stake in shares of Amgen by 1.1% in the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after buying an additional 30 shares in the last quarter. Finally, Viawealth LLC grew its stake in shares of Amgen by 0.4% in the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Amgen Price Performance

Amgen stock opened at $355.20 on Friday. Amgen Inc. has a 12-month low of $267.83 and a 12-month high of $391.29. The firm has a 50-day moving average price of $340.97 and a 200-day moving average price of $345.72. The firm has a market capitalization of $191.70 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

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 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 company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the business posted $4.90 EPS. The firm'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, equities research analysts forecast that Amgen Inc. will post 22.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have 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. UBS Group raised their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Rothschild & Co Redburn raised their target price on shares of Amgen from $180.00 to $200.00 and gave the stock a "sell" rating in a report on Wednesday, February 18th. Canaccord Genuity Group initiated coverage on shares of Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. Finally, Daiwa Securities Group lowered their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $354.12.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen said its phase 3 ABP 938 eye-disease study is advancing, with the drug aimed at challenging Regeneron’s Eylea HD in a major retina market. That keeps Amgen’s pipeline in focus as a potential future growth driver. Article Title
• Positive Sentiment: Amgen also highlighted its MARITIME-SWITCH phase 3 obesity trial, which is designed to capture GLP-1 switchers. Any success in obesity treatment could open another large market and improve long-term revenue expectations. Article Title
• Positive Sentiment: Some coverage pointed to Amgen as a value stock with supportive new data from the VESALIUS-CV cardiovascular study for Repatha, reinforcing confidence in the company’s broader portfolio. Article Title
• Neutral Sentiment: Amgen and outside analysts published bullish commentary on the stock’s valuation and earnings profile, but these were mostly opinion pieces rather than new business developments. Article Title
• Negative Sentiment: Investor sentiment is being pressured by reports that Amgen’s Tavneos faces a proposed FDA withdrawal, with the company seeking a hearing and commissioning an independent review to defend the drug’s data. Regulatory uncertainty around a $500 million product is a meaningful risk for the stock. Article Title
• Negative Sentiment: Reuters also reported that Amgen hired a research firm to reassess Tavneos data after FDA concerns, underscoring the regulatory overhang and near-term uncertainty for the drug. Article Title

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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