Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,826 shares of the medical research company’s stock after buying an additional 3,002 shares during the period. Cullen Frost Bankers Inc.’s holdings in Amgen were worth $23,933,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Amgen in the third quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Amgen during the third quarter valued at about $29,000. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at about $25,000. Synergy Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen during the fourth quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. UBS Group reiterated a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Piper Sandler increased their price objective on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $314.95.

Amgen Stock Up 1.4 %

Shares of NASDAQ:AMGN opened at $316.57 on Thursday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $170.06 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.63 and a beta of 0.56. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a 50 day simple moving average of $283.80 and a 200 day simple moving average of $299.78.

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

Amgen Dividend Announcement

The business 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. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.01%. Amgen’s payout ratio is 126.09%.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the sale, the executive vice president now owns 36,922 shares in the company, valued at $11,240,533.68. This represents a 40.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the completion of the sale, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last quarter. 0.69% of the stock is currently owned by corporate 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.