TIAA Trust National Association Sells 1,478 Shares of Amgen Inc. (NASDAQ:AMGN)

TIAA Trust National Association decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,736 shares of the medical research company’s stock after selling 1,478 shares during the quarter. TIAA Trust National Association’s holdings in Amgen were worth $15,540,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Aire Advisors LLC lifted its holdings in shares of Amgen by 0.7% in the 2nd quarter. Aire Advisors LLC now owns 10,570 shares of the medical research company’s stock worth $3,303,000 after buying an additional 74 shares during the period. Chilton Capital Management LLC lifted its stake in Amgen by 3.0% in the second quarter. Chilton Capital Management LLC now owns 69,653 shares of the medical research company’s stock worth $21,763,000 after acquiring an additional 2,038 shares during the period. Verus Capital Partners LLC lifted its stake in Amgen by 35.6% in the second quarter. Verus Capital Partners LLC now owns 3,015 shares of the medical research company’s stock worth $942,000 after acquiring an additional 791 shares during the period. Mraz Amerine & Associates Inc. grew its holdings in Amgen by 8.9% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 7,024 shares of the medical research company’s stock worth $2,195,000 after acquiring an additional 577 shares in the last quarter. Finally, Guidance Capital Inc. increased its position in Amgen by 11.0% during the 2nd quarter. Guidance Capital Inc. now owns 6,016 shares of the medical research company’s stock valued at $2,000,000 after purchasing an additional 598 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMGN. Morgan Stanley dropped their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Bank of America lifted their price target on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada upped their price objective on Amgen from $332.00 to $362.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $326.89.

Amgen Stock Performance

Shares of AMGN opened at $330.51 on Wednesday. The stock has a 50-day moving average of $325.53 and a two-hundred day moving average of $301.50. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market cap of $177.30 billion, a P/E ratio of 47.22, a P/E/G ratio of 2.96 and a beta of 0.58. Amgen Inc. has a one year low of $248.38 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter in the prior year, the company earned $5.00 EPS. Amgen’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.72%. Amgen’s dividend payout ratio is presently 128.57%.

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.