In the third quarter, South Korea’s National Pension Service boosted its position in Amgen by 3.3%, acquiring an additional 37,747 shares to bring its total holding to 1,184,060 shares. This stake, representing 0.22% of Amgen’s outstanding shares, was valued at $334.14 million at period end. The move underscores continued confidence from one of the world’s largest pension funds and adds to a trend of incremental increases by major institutional shareholders.

During the past quarter, two senior executives reduced their Amgen holdings. Senior Vice President Nancy A. Grygiel sold 3,139 shares, trimming her position by 30.3%, while Executive Vice President Murdo Gordon disposed of 6,879 shares, representing a 14.1% reduction. Collectively, insiders have sold 10,908 shares over the last ninety days, equivalent to roughly 0.76% of the company’s stock, signaling a potential rebalancing of personal portfolios.

For the quarter ended September 30, Amgen reported adjusted earnings per share of $5.64, exceeding consensus estimates by $0.63, on revenues of $9.56 billion, beating forecasts by $0.58 billion and marking a 12.4% year-over-year increase. The company delivered a net margin of 19.5% and returned 162.6% on equity. Management reiterated full-year 2025 guidance of $20.60 to $21.40 in EPS, in line with the street’s average projection of $20.62, reflecting confidence in growth drivers across its biologics portfolio.

Amgen announced a quarterly dividend increase to $2.52 per share, translating to an annualized payout of $10.08 and a yield of 2.9%, up from the prior $2.38 quarterly distribution. The payout ratio stands at 73.6%. Following the announcement, several research firms raised their price targets and ratings: Argus upgraded to Buy with a target increase to $360, RBC raised its target to $335 with an Outperform rating, and BMO Capital Markets lifted its objective to $372. Collectively, analysts maintain a Moderate Buy consensus on the shares.