California State Teachers Retirement System Sells 19,940 Shares of Amgen Inc. $AMGN

Key Points

• California State Teachers Retirement System cut its Amgen stake by 2.4%, selling 19,940 shares and retaining 825,116 shares valued at approximately $290.3 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported first-quarter earnings of $5.15 per share, beating estimates by $0.38, while revenue rose 5.8% year over year to $8.62 billion. The stock was trading near its 52-week high after gaining 4.5%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $356.62. Investors also face pipeline uncertainty after Amgen halted a late-stage rocatinlimab study, ahead of the company’s second-quarter results scheduled for August 4.

California State Teachers Retirement System lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 825,116 shares of the medical research company's stock after selling 19,940 shares during the period. California State Teachers Retirement System owned 0.15% of Amgen worth $290,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. High Note Wealth LLC lifted its position in Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after acquiring an additional 28 shares during the last quarter. TAGStone Capital Inc. lifted its holdings in shares of Amgen by 0.7% during the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after purchasing an additional 28 shares during the last quarter. Verus Capital Partners LLC boosted its position in shares of Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after purchasing an additional 28 shares in the last quarter. Destination Wealth Management grew its stake in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after buying an additional 29 shares during the last quarter. Finally, Breakwater Capital Group increased its position in Amgen by 1.4% during the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock valued at $717,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is owned by company insiders.

Amgen Trading Up 4.5%

Amgen stock opened at $393.10 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $398.00. The company has a market capitalization of $212.16 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.81 and a beta of 0.41. The stock has a 50-day moving average price of $353.56 and a 200 day moving average price of $352.71.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the company earned $4.90 EPS. Amgen's quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts anticipate that Amgen Inc. will post 22.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMGN. Mizuho raised their price target on Amgen from $295.00 to $303.00 and gave the stock a "neutral" rating in a report on Tuesday, June 16th. Royal Bank Of Canada reaffirmed a "positive" rating on shares of Amgen in a research report on Thursday, June 18th. Guggenheim boosted their target price on shares of Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research report on Monday, July 13th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $400.00 price objective on shares of Amgen in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $356.62.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Investor attention around AMGN has increased, potentially supporting trading interest as the company approaches its second-quarter results. Amgen investor attention article
• Neutral Sentiment: Amgen will release its second-quarter 2026 financial results after the U.S. market closes on August 4 and host an investor conference call at 4:30 p.m. ET. The announcement gives investors a near-term catalyst, with management expected to discuss results and outlook. Amgen second-quarter webcast announcement
• Negative Sentiment: An earnings preview projects that Amgen’s second-quarter earnings may decline and suggests the company lacks the factors typically associated with a likely earnings beat. That could weigh on expectations ahead of the August 4 report. Amgen Q2 earnings preview
• Negative Sentiment: Amgen halted a late-stage Phase 3 study of rocatinlimab in prurigo nodularis, resetting expectations for the drug in dermatology. The development removes or delays a potential source of future growth and adds uncertainty to the company’s pipeline. Rocatinlimab Phase 3 study article

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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