Teacher Retirement System of Texas Sells 8,974 Shares of Amgen Inc. $AMGN

Teacher Retirement System of Texas decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,541 shares of the medical research company’s stock after selling 8,974 shares during the period. Teacher Retirement System of Texas’ holdings in Amgen were worth $43,429,000 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 the business. Y Intercept Hong Kong Ltd raised its position in Amgen by 78.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,787 shares of the medical research company’s stock valued at $4,687,000 after purchasing an additional 7,370 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its position in Amgen by 32.5% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 1,696 shares of the medical research company’s stock valued at $474,000 after purchasing an additional 416 shares during the last quarter. Bessemer Group Inc. raised its position in Amgen by 4.9% during the 2nd quarter. Bessemer Group Inc. now owns 25,644 shares of the medical research company’s stock valued at $7,160,000 after purchasing an additional 1,200 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in Amgen by 4.1% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 92,123 shares of the medical research company’s stock valued at $25,722,000 after purchasing an additional 3,633 shares during the last quarter. Finally, Solstein Capital LLC raised its position in Amgen by 210.0% during the 2nd quarter. Solstein Capital LLC now owns 186 shares of the medical research company’s stock valued at $52,000 after purchasing an additional 126 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $291.16 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market capitalization of $156.75 billion, a P/E ratio of 23.81, a PEG ratio of 2.61 and a beta of 0.49. The stock’s 50 day moving average is $287.89 and its 200 day moving average is $287.33. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $335.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 22nd were paid a $2.38 dividend. The ex-dividend date was Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,267 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the sale, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMGN. Piper Sandler upped their price target on Amgen from $328.00 to $342.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Morgan Stanley increased their target price on Amgen from $330.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James Financial started coverage on Amgen in a research report on Wednesday, September 3rd. They issued a “market perform” rating for the company. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has 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 $300.94.

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.