Cullen Frost Bankers Inc. Acquires 3,002 Shares of Amgen Inc. (NASDAQ:AMGN)

Cullen Frost Bankers Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,826 shares of the medical research company’s stock after purchasing an additional 3,002 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Amgen were worth $23,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew 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 buying an additional 2,672,975 shares during the last quarter. Van ECK Associates Corp grew its stake in Amgen by 263.8% in the 4th quarter. Van ECK Associates Corp now owns 1,038,593 shares of the medical research company’s stock valued at $270,699,000 after buying 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 valued at $609,526,000 after buying an additional 676,598 shares during the last quarter. Janus Henderson Group PLC grew its stake 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 buying an additional 538,545 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Amgen by 35,087.4% in the 4th quarter. Proficio Capital Partners LLC now owns 470,808 shares of the medical research company’s stock valued at $122,711,000 after buying an additional 469,470 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 36,922 shares of the company’s stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan P. Graham sold 25,045 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,341 shares of company stock valued at $20,644,335. Insiders own 0.69% of the company’s stock.

Amgen Trading Up 1.4 %

Shares of AMGN stock opened at $316.57 on Thursday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $170.06 billion, a P/E ratio of 41.93, a P/E/G ratio of 2.63 and a beta of 0.56. The firm has a 50-day moving average price of $283.80 and a 200 day moving average price of $299.78. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is currently 126.09%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Leerink Partners decreased their price target on shares of Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Finally, Redburn Partners decreased their price target on shares of Amgen from $200.00 to $195.00 in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $314.95.

Amgen 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.