Cullen Frost Bankers Inc. Buys 4,162 Shares of Amgen Inc. (NASDAQ:AMGN)

Cullen Frost Bankers Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,988 shares of the medical research company's stock after buying an additional 4,162 shares during the period. Cullen Frost Bankers Inc.'s holdings in Amgen were worth $29,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. KPP Advisory Services LLC raised its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new position in shares of Amgen in the 1st quarter valued at about $1,331,000. DLK Investment Management LLC grew its position in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares during the last quarter. Aire Advisors LLC raised its stake in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC lifted its holdings in Amgen by 2.2% in the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after acquiring an additional 19,250 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Finally, Piper Sandler restated an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen currently has an average rating of "Hold" and an average target price of $307.82.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Down 0.3%

Shares of AMGN traded down $0.76 during mid-day trading on Thursday, reaching $298.26. The company's stock had a trading volume of 1,134,746 shares, compared to its average volume of 2,834,543. The business has a fifty day moving average of $284.80 and a 200 day moving average of $288.65. The company has a market cap of $160.38 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 2.64 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company earned $3.96 EPS. The firm's revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.