Korea Investment Adds $40M in Amgen Inc. ($AMGN)
Korea Investment boosted its holdings in Amgen Inc. by 40.3%, according to a recent SEC filing.
Key Points
- Korea Investment increased its Amgen Inc. stake by 113,743 shares, bringing its total to 395,932 shares, valued at $140.96 million.
- Amgen Inc. has a market cap of about $189.18 billion and trades with a P/E ratio of 24.39 and a forward P/E of 14.93.
- Insiders including Charles Holley and Ellen Jamison each purchased 665 shares of Amgen on May 19, 2026.
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Korea Investment has increased its holdings in Amgen Inc. (NasdaqGS: AMGN) by 113,743 shares, according to a recent SEC filing. This move represents a 40.3% rise in their stake, bringing the total shares owned to 395,932, valued at approximately $140.96 million as of the reporting period.
What Changed in Korea Investment's Amgen Inc. Position
Korea Investment boosted its stake in Amgen Inc. from 282,189 shares to 395,932 shares, marking an increase of 113,743 shares. This 40.3% rise reflects a significant addition to their investment portfolio, with the total value of the shares now reaching about $140.96 million.
Other Institutional Activity in Amgen Inc.
In other institutional activity, BlackRock, Inc. reduced its holdings by 295,666 shares, ending with 47,100,472 shares valued at approximately $16.57 billion. Vanguard Capital Management LLC added 35,014,232 shares, bringing its total to the same number, worth around $12.32 billion. State Street Corp trimmed its position by 42,915 shares, holding 30,548,488 shares valued at about $10.75 billion. Capital World Investors increased its stake by 6,190,632 shares, now holding 29,288,343 shares worth $10.30 billion. Morgan Stanley added 91,530 shares, totaling 15,836,058 shares valued at $5.57 billion.
Amgen Inc. Stock Down 17.8%
Shares of Amgen Inc. traded near $356.02. The company has a market capitalization of approximately $189.18 billion. It trades with a P/E ratio of 24.39 and a forward P/E of 14.93, indicating expectations of future earnings growth. The stock's beta is 0.416, suggesting lower volatility compared to the market. Amgen's 52-week range spans from $267.83 to $391.29, with a 50-day moving average of $340.36 and a 200-day moving average of $331.04.
Recent Earnings
Amgen reported revenue of $37.22 billion, reflecting a growth rate of 5.8%. The company's net margin stood at 20.96%, with a return on equity of 101.32%. Earnings per share were $14.37. Amgen is expected to release its next earnings report on August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 1 raises.
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EPS & revenue
EPS beat estimates by 6.1%. Revenue missed estimates by 1.5%.
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Profit surprise
EBITDA missed by 45 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 2 target cuts.
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Earnings quality
Gross margin up 4.6 points. Operating margin up 16.5 points. Positive free cash flow.
Earnings Call Summary
Amgen had a strong first quarter with earnings per share of 5.15 dollars beating expectations of 4.73 dollars. Six key medicines grew sales by 24 percent year over year and now make up 70 percent of total sales. The obesity drug Meritide is advancing well in late-stage testing with new studies showing better tolerance when patients take it less frequently, potentially every eight to twelve weeks instead of weekly injections.
Guidance Amgen raised its 2026 outlook to revenue between 37.1 billion and 38.5 billion dollars, and earnings per share between 21.70 and 23.10 dollars. The company expects its fast-growing medicines like Repatha and Evenity to offset patent losses. Management said capital spending will remain at about 2.6 billion dollars to scale manufacturing for new drug launches.
Clearly negative report. The company missed important expectations and likely triggers downward revisions.
Dividend
Amgen offers an annual dividend rate of $10.08, yielding 2.88%. The dividend payout ratio is 67.22%, indicating a solid return to shareholders while retaining earnings for growth.
Insider Buying and Selling at Amgen Inc.
On May 19, 2026, several insiders, including Charles Holley, Ellen Jamison, Greg Garland, Wanda Austin, Brian Druker, and Tyler Jacks, each purchased 665 shares of Amgen Inc. These transactions were not part of a pre-planned trading strategy and reflect insider confidence in the company.
Analysts Set New Price Targets
On June 10, 2026, Morgan Stanley maintained its 'hold' rating on Amgen with a price target of $340. Piper Sandler, on May 14, 2026, maintained a 'buy' rating with a target of $427. Other firms like Guggenheim and Truist Securities also maintained 'hold' ratings with targets of $340 and $327, respectively. The consensus among analysts is a 'buy' rating, with an average price target of $352.50 from 30 analysts.
About Amgen Inc.
Amgen Inc. is a leading biotechnology company based in Thousand Oaks, California. It focuses on discovering, developing, and delivering human therapeutics. The company offers a range of products for conditions like rheumatoid arthritis, osteoporosis, and various cancers. Under the leadership of CEO Robert A. Bradway, Amgen employs about 31,500 people and collaborates with partners like AstraZeneca and BeiGene to expand its product offerings.
Bottom Line
Korea Investment's significant increase in its Amgen Inc. stake reflects confidence in the company's potential. With a strong market position and a history of steady growth, Amgen remains a focal point for investors. However, remember that 13F filings are backward-looking and may not represent the investor's current position.
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