Texas Capital Bank Wealth Management Services Inc Raises Position in Amgen Inc. $AMGN

Texas Capital Bank Wealth Management Services Inc raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 32.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,582 shares of the medical research company’s stock after acquiring an additional 628 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Amgen were worth $805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. GAMMA Investing LLC boosted its position in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the period. Nuveen LLC purchased a new position in Amgen in the 1st quarter valued at approximately $688,868,000. Northern Trust Corp boosted its position in Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock valued at $1,676,183,000 after buying an additional 875,254 shares during the period. Two Sigma Advisers LP lifted its position in shares of Amgen by 96.9% during the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company’s stock worth $402,845,000 after purchasing an additional 760,700 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Amgen during the 4th quarter worth $193,339,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Down 1.3%

NASDAQ AMGN opened at $292.62 on Tuesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a market cap of $157.54 billion, a PE ratio of 23.93, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $339.17. The firm’s fifty day moving average is $293.35 and its two-hundred day moving average is $293.15.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.97 earnings per share. Analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. Amgen’s payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMGN shares. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Royal Bank Of Canada decreased their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 23rd. Finally, Citigroup lifted their price objective on shares of Amgen from $305.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $303.76.

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.