Cullen Frost Bankers Inc. Sells 93 Shares of Amgen Inc. $AMGN

Cullen Frost Bankers Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.1% during the second quarter, HoldingsChannel.com reports. The fund owned 95,895 shares of the medical research company’s stock after selling 93 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Amgen were worth $26,775,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMGN. Nuveen LLC purchased a new position in shares of Amgen during the first quarter worth approximately $688,868,000. Federated Hermes Inc. increased its position in shares of Amgen by 48.5% during the first quarter. Federated Hermes Inc. now owns 2,037,169 shares of the medical research company’s stock worth $634,680,000 after acquiring an additional 665,555 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Amgen by 128.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,065,694 shares of the medical research company’s stock worth $332,017,000 after acquiring an additional 600,096 shares during the period. WoodTrust Financial Corp increased its holdings in Amgen by 8,223.6% during the second quarter. WoodTrust Financial Corp now owns 595,634 shares of the medical research company’s stock valued at $166,307,000 after buying an additional 588,478 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Amgen during the second quarter valued at approximately $156,812,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total transaction of $376,286.33. Following the completion of the sale, the senior vice president directly owned 7,209 shares in the company, valued at approximately $2,141,000.91. The trade was a 14.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $301.14 on Wednesday. The firm’s fifty day simple moving average is $287.83 and its two-hundred day simple moving average is $287.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $335.88. The firm has a market capitalization of $162.12 billion, a P/E ratio of 24.62, a P/E/G ratio of 2.68 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the company earned $4.97 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 22nd were paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 22nd. Amgen’s payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Bank of America lifted their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a report on Friday, September 26th. Finally, Citigroup lifted their price objective on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $300.94.

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.