Teacher Retirement System of Texas raised its stake in Amgen, Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 434,762 shares of the medical research company’s stock after buying an additional 3,127 shares during the quarter. Amgen comprises approximately 0.7% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 17th biggest position. Teacher Retirement System of Texas’ holdings in Amgen were worth $80,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Arbor Wealth Management LLC raised its holdings in shares of Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. C J Advisory Inc purchased a new position in shares of Amgen during the first quarter worth $40,000. Clarfeld Financial Advisors LLC purchased a new position in shares of Amgen during the fourth quarter worth $41,000. Ashburton Jersey Ltd purchased a new position in shares of Amgen during the second quarter worth $42,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Amgen by 402.1% during the second quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Several brokerages recently issued reports on AMGN. Morgan Stanley reduced their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. restated a “hold” rating on shares of Amgen in a research report on Friday, August 9th. Oppenheimer raised their price target on shares of Amgen from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Credit Suisse Group restated an “outperform” rating and set a $225.00 price target (up previously from $202.00) on shares of Amgen in a research report on Friday, August 16th. Finally, Wells Fargo & Co raised their price target on shares of Amgen from $197.00 to $202.00 and gave the company a “market perform” rating in a research report on Monday, August 12th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $212.94.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold 4,425 shares of company stock worth $804,312 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Shares of NASDAQ AMGN traded up $0.86 during trading on Wednesday, hitting $204.03. The company had a trading volume of 1,021,146 shares, compared to its average volume of 3,882,518. The stock has a fifty day simple moving average of $185.49 and a two-hundred day simple moving average of $183.23. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $211.90. The firm has a market capitalization of $122.35 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.19. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the business earned $3.83 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts anticipate that Amgen, Inc. will post 14.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 annualized dividend and a dividend yield of 2.84%. Amgen’s dividend payout ratio (DPR) is 40.28%.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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