Cullen Frost Bankers Inc. Has $25.87 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cullen Frost Bankers Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 89,834 shares of the medical research company’s stock after acquiring an additional 2,389 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Amgen were worth $25,874,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $4,589,900,000. Assenagon Asset Management S.A. increased its position in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after buying an additional 745,929 shares during the period. abrdn plc increased its position in shares of Amgen by 150.4% during the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after buying an additional 626,810 shares during the period. Los Angeles Capital Management LLC increased its position in shares of Amgen by 111.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock worth $284,869,000 after buying an additional 522,367 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Amgen by 11.4% during the third quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after buying an additional 518,689 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by insiders.

Amgen Stock Up 0.3 %

Shares of AMGN traded up $0.82 during trading hours on Tuesday, reaching $300.30. 2,452,073 shares of the stock traded hands, compared to its average volume of 2,910,303. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock has a fifty day simple moving average of $275.65 and a 200 day simple moving average of $281.74. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $329.72. The company has a market cap of $161.07 billion, a price-to-earnings ratio of 42.90, a PEG ratio of 3.00 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the firm earned $3.98 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts forecast that Amgen Inc. will post 19.46 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. UBS Group raised their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $230.00 to $300.00 in a report on Friday. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday. Finally, SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $305.05.

Amgen Company 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.