Korea Investment CORP Has $98.25 Million Holdings in Amgen Inc. $AMGN

Korea Investment CORP lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,867 shares of the medical research company’s stock after acquiring an additional 4,951 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Amgen worth $98,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Wealth Preservation Advisors LLC acquired a new stake in shares of Amgen during the first quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in Amgen in the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock worth $29,000 after buying an additional 85 shares during the period. Evelyn Partners Investment Management LLP bought a new stake in Amgen during the 2nd quarter worth approximately $32,000. Finally, Activest Wealth Management increased its holdings in Amgen by 3,433.3% in the first quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. Piper Sandler increased their price target on Amgen from $342.00 to $381.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Cantor Fitzgerald raised their price target on shares of Amgen from $305.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Citigroup upped their price target on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Raymond James Financial assumed coverage on Amgen in a research note on Wednesday, September 3rd. They issued a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Amgen from $280.00 to $285.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $333.74.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 890 shares of Amgen stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $336.24, for a total transaction of $299,253.60. Following the sale, the senior vice president directly owned 7,082 shares in the company, valued at approximately $2,381,251.68. This trade represents a 11.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares in the company, valued at $2,436,703.50. This trade represents a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,908 shares of company stock worth $3,674,966. 0.76% of the stock is owned by company insiders.

Amgen Trading Up 1.0%

Shares of Amgen stock opened at $344.57 on Thursday. The company has a market capitalization of $185.54 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 2.61 and a beta of 0.45. The stock has a fifty day simple moving average of $304.95 and a 200 day simple moving average of $293.90. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $345.84. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.63. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $8.98 billion. During the same period last year, the business earned $5.58 EPS. The business’s revenue was up 12.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a $2.38 dividend. The ex-dividend date is Friday, November 21st. This represents a $9.52 annualized dividend and a yield of 2.8%. Amgen’s dividend payout ratio (DPR) is 73.57%.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.