Amgen, Inc. (AMGN) Stake Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Amgen, Inc. (NASDAQ:AMGN) by 16.5% during the third quarter, HoldingsChannel.com reports. The firm owned 740,764 shares of the medical research company’s stock after purchasing an additional 104,871 shares during the period. Amgen comprises 0.8% of Teacher Retirement System of Texas’ portfolio, making the stock its 23rd largest holding. Teacher Retirement System of Texas’ holdings in Amgen were worth $138,115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Welch Group LLC acquired a new position in shares of Amgen during the 2nd quarter valued at $639,000. DekaBank Deutsche Girozentrale lifted its position in shares of Amgen by 2.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 883,579 shares of the medical research company’s stock valued at $152,927,000 after acquiring an additional 24,219 shares during the period. Pacer Advisors Inc. lifted its position in shares of Amgen by 10.3% during the 2nd quarter. Pacer Advisors Inc. now owns 25,378 shares of the medical research company’s stock valued at $4,371,000 after acquiring an additional 2,362 shares during the period. Wesbanco Bank Inc. lifted its position in shares of Amgen by 6.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 106,792 shares of the medical research company’s stock valued at $18,393,000 after acquiring an additional 6,492 shares during the period. Finally, Coho Partners Ltd. lifted its position in shares of Amgen by 25.8% during the 2nd quarter. Coho Partners Ltd. now owns 1,034,651 shares of the medical research company’s stock valued at $178,198,000 after acquiring an additional 212,213 shares during the period. Hedge funds and other institutional investors own 78.48% of the company’s stock.

In other news, Director Carbonnel Francois De sold 4,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $176.83, for a total transaction of $269,665.75. Following the completion of the sale, the executive vice president now directly owns 56,106 shares in the company, valued at $9,921,223.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,050 shares of company stock worth $1,225,765. Insiders own 0.19% of the company’s stock.

A number of brokerages have commented on AMGN. Mizuho set a $192.00 price target on shares of Amgen and gave the company a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada decreased their price target on shares of Amgen from $192.00 to $188.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Credit Suisse Group restated a “neutral” rating and set a $186.00 price target (up previously from $177.00) on shares of Amgen in a research note on Friday, September 29th. Finally, Oppenheimer restated a “buy” rating and set a $205.00 price target on shares of Amgen in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. Amgen has a consensus rating of “Hold” and an average price target of $190.15.

Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $185.04 on Tuesday. Amgen, Inc. has a one year low of $150.38 and a one year high of $191.10. The company has a quick ratio of 5.72, a current ratio of 6.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $134,322.48, a price-to-earnings ratio of 16.75, a PEG ratio of 2.70 and a beta of 1.36.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.16. Amgen had a net margin of 35.54% and a return on equity of 29.90%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. research analysts expect that Amgen, Inc. will post 12.71 earnings per share for the current year.

Amgen announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Amgen’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, February 14th. Amgen’s dividend payout ratio is presently 41.63%.

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About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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