TIAA Trust National Association Trims Stake in Amgen Inc. (NASDAQ:AMGN)

TIAA Trust National Association decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,729 shares of the medical research company’s stock after selling 3,192 shares during the period. TIAA Trust National Association’s holdings in Amgen were worth $12,179,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Amgen during the fourth quarter valued at approximately $401,913,000. Van ECK Associates Corp boosted its position in Amgen by 263.8% during the fourth quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock worth $270,699,000 after acquiring an additional 753,147 shares during the last quarter. Nordea Investment Management AB grew its stake in Amgen by 40.7% in the 4th quarter. Nordea Investment Management AB now owns 2,338,665 shares of the medical research company’s stock worth $609,526,000 after acquiring an additional 676,598 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Amgen by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after acquiring an additional 538,545 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Leerink Partners lowered their price target on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Truist Financial lowered their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler increased their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average target price of $314.04.

Amgen Price Performance

Shares of AMGN stock opened at $306.86 on Wednesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market capitalization of $164.85 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a fifty day simple moving average of $298.92 and a 200-day simple moving average of $298.41.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, May 16th. Amgen’s payout ratio is 126.09%.

Insider Activity

In other news, EVP Jonathan P. Graham sold 25,045 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the transaction, the executive vice president now owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now directly owns 7,210 shares of the company’s stock, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by insiders.

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.