California State Teachers Retirement System Buys 297,430,677 Shares of Amgen Inc. $AMGN

Key Points

• California State Teachers Retirement System sharply increased its Amgen stake by purchasing 297.4 million shares in the second quarter, bringing its reported ownership to 55.17% of the company, valued at approximately $108 billion.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 and revenue of $10.05 billion, while raising or maintaining 2026 guidance. Shares recently traded near their 52-week high, and the company declared a quarterly dividend of $2.52 per share.
• Regulatory risk remains a key concern: U.K. authorities suspended Tavneos for new patients and may revoke its authorization, following proposed U.S. withdrawal action. Analysts remain mixed, with Amgen carrying an average “Hold” rating and a $381.68 price target.

California State Teachers Retirement System raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 36,047.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,255,793 shares of the medical research company's stock after purchasing an additional 297,430,677 shares during the period. California State Teachers Retirement System owned 55.17% of Amgen worth $108,004,388,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Dogwood Wealth Management LLC raised its holdings in Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after acquiring an additional 55 shares during the period. Tower View Wealth Management LLC boosted its holdings in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after acquiring an additional 63 shares during the period. Manning & Napier Advisors LLC grew its position in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Evergreen Advisors LLC acquired a new position in shares of Amgen in the first quarter valued at approximately $37,000. Finally, Sfam LLC bought a new position in shares of Amgen during the fourth quarter worth approximately $38,000. 76.50% of the stock is owned by institutional investors.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Repatha data could expand its addressable market. Amgen reported that Repatha reduced all-cause mortality by 20% in a prespecified analysis of the Phase 3 VESALIUS-CV trial, which studied more than 12,000 high-risk adults who had not previously experienced a heart attack or stroke. Earlier use could support broader adoption of the cardiovascular drug. Amgen Repatha VESALIUS-CV article
• Positive Sentiment: MariTide retains a potential convenience advantage in obesity treatment. Amgen’s investigational therapy could require less-frequent dosing than competing treatments from Eli Lilly and Novo Nordisk. That feature may help differentiate MariTide if its clinical and regulatory profile supports approval, although competition in the market remains intense. Amgen MariTide obesity article
• Neutral Sentiment: Shares had recently approached a 52-week high. Recent strength followed better-than-expected quarterly earnings and raised 2026 guidance, but the stock’s elevated valuation and gains left it more vulnerable to profit-taking when adverse regulatory news emerged. Amgen stock and 2026 guidance article
• Negative Sentiment: U.K. action against Tavneos intensified regulatory risk. The U.K. regulator suspended Tavneos for new patients and indicated a path toward revoking its authorization in March 2027, saying the drug’s benefit-risk balance was no longer favorable and that its pivotal efficacy study could not be relied upon. This compounds the FDA’s April proposal to withdraw U.S. approval over effectiveness, application-disclosure and liver-safety concerns, raising the possibility of broader loss of value for the drug. Amgen Tavneos regulatory pressure article
• Negative Sentiment: Insider selling added a modest sentiment headwind. Reported insider transactions showed seven sales and no purchases over the past six months, though these trades are less significant than the Tavneos developments. Amgen trading disclosures article

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America increased their price objective on Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Amgen from $350.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. TD Cowen boosted their price target on Amgen from $420.00 to $452.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Piper Sandler boosted their price target on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Amgen presently has an average rating of "Hold" and an average price target of $381.68.

Amgen Stock Performance

Shares of Amgen stock opened at $437.23 on Monday. The company's 50 day moving average price is $397.39 and its two-hundred day moving average price is $367.14. The firm has a market capitalization of $236.38 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.15 and a beta of 0.43. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.97 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio (DPR) is currently 62.65%.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last quarter. Corporate insiders own 0.85% of the company's stock.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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