Amgen Inc. (NASDAQ:AMGN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 491,815 shares of the medical research company’s stock after selling 20,124 shares during the period. New York State Teachers Retirement System owned about 0.09% of Amgen worth $158,468,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Amgen by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors increased its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after buying an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC increased its position in Amgen by 33,125.4% during the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Amgen by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Amgen by 6,812.4% in the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.55 during trading on Wednesday, reaching $314.45. The stock had a trading volume of 219,754 shares, compared to its average volume of 2,409,825. The firm’s 50 day moving average price is $325.02 and its two-hundred day moving average price is $314.78. Amgen Inc. has a one year low of $249.70 and a one year high of $346.85. The stock has a market cap of $168.68 billion, a PE ratio of 45.14, a P/E/G ratio of 2.86 and a beta of 0.61. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.00 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and a consensus target price of $332.55.

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.