Amgen Inc. (NASDAQ:AMGN) Shares Sold by TIAA Trust National Association

Key Points

• TIAA Trust National Association reduced its holdings in Amgen Inc. by 4.2%, ending the first quarter with 44,745 shares valued at approximately $13.94 million.
• Amgen recently announced a quarterly dividend of $2.38 per share, representing an annualized dividend of $9.52 and a yield of 3.2%.
• Despite TIAA's decrease, several other institutional investors, such as Brighton Jones LLC and Wellington Management Group, have increased their stakes in Amgen, contributing to a total institutional ownership of 76.50% in the company.

TIAA Trust National Association decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,745 shares of the medical research company's stock after selling 1,984 shares during the period. TIAA Trust National Association's holdings in Amgen were worth $13,940,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Beck Mack & Oliver LLC raised its position in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after acquiring an additional 34 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after acquiring an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC grew its position in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after acquiring an additional 35 shares during the period. Affinity Capital Advisors LLC raised its holdings in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the period. Finally, Accredited Investors Inc. boosted its position in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Citigroup lifted their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Bank of America increased their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. UBS Group decreased their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.23.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.07 during trading on Thursday, reaching $283.60. The stock had a trading volume of 365,692 shares, compared to its average volume of 2,897,781. The firm's 50 day moving average price is $293.18 and its two-hundred day moving average price is $292.39. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The stock has a market cap of $152.49 billion, a PE ratio of 23.19, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 180.66%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $4.97 earnings per share. On average, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.4%. Amgen's dividend payout ratio is presently 77.84%.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Profile

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.