Cullen Frost Bankers Inc. Cuts Stake in Amgen Inc. $AMGN

Key Points

• Cullen Frost Bankers Inc. cut its Amgen stake by 12.4% in the fourth quarter, selling 10,763 shares and ending with 76,001 shares valued at about $24.9 million.
• Amgen recently beat quarterly earnings expectations, reporting $5.15 EPS versus the $4.77 estimate and revenue of $8.62 billion, while also reaffirming full-year guidance of 21.7 to 23.1 EPS.
• The company declared a quarterly dividend of $2.52 per share, implying a 3.0% annual yield, even as insider selling and mixed analyst sentiment kept the stock rated at a consensus “Hold”.

Cullen Frost Bankers Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,001 shares of the medical research company's stock after selling 10,763 shares during the period. Cullen Frost Bankers Inc.'s holdings in Amgen were worth $24,876,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMGN. Anfield Capital Management LLC raised its holdings in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after buying an additional 70 shares during the period. Dogwood Wealth Management LLC raised its holdings in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after buying an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new position in Amgen in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC raised its holdings in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares during the period. Finally, Olistico Wealth LLC purchased a new position in Amgen in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Amgen from $285.00 to $295.00 and gave the company a "hold" rating in a report on Thursday, February 5th. Barclays started coverage on shares of Amgen in a report on Friday, February 20th. They issued an "equal weight" rating and a $350.00 price target on the stock. Morgan Stanley set a $332.00 price objective on shares of Amgen in a research report on Friday, May 1st. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group started coverage on shares of Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $356.15.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen announced a planned CFO transition, with Peter Griffith retiring and Thomas Dittrich returning to the company to succeed him. A well-telegraphed succession plan can reduce uncertainty around finance leadership and is typically viewed as a stability signal. AMGEN ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER PETER GRIFFITH
• Neutral Sentiment: Amgen also named an analyst report in the news flow, along with Piper Sandler trimming its price target while keeping an Overweight rating. That suggests continued long-term optimism, but the target cut is a modest headwind rather than a major catalyst. Amgen (AMGN) Gets Price Target Cut at Piper Sandler Despite Long-Term Growth Optimism
• Negative Sentiment: Separately, Amgen’s kidney disease drug Tavneos faced renewed scrutiny in Japan, where partner Kissei urged doctors to use caution and avoid starting new patients amid safety and regulatory concerns. Headlines like this can pressure sentiment because they raise questions about the product’s commercial trajectory and safety profile. Amgen Japanese Partner Urges Caution On Tavneos Use

Amgen Stock Up 2.0%

AMGN stock opened at $330.75 on Wednesday. Amgen Inc. has a twelve month low of $267.83 and a twelve month high of $391.29. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The company has a market capitalization of $178.50 billion, a P/E ratio of 23.02, a PEG ratio of 3.26 and a beta of 0.44. The firm has a 50 day simple moving average of $347.53 and a 200-day simple moving average of $343.86.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter last year, the company earned $4.90 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts predict that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's payout ratio is currently 70.15%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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