First Financial Bankshares Inc Has $59.70 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Financial Bankshares Inc raised its stake in Amgen Inc. (NASDAQ:AMGN) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 229,053 shares of the medical research company’s stock after buying an additional 4,476 shares during the quarter. Amgen accounts for about 1.3% of First Financial Bankshares Inc’s holdings, making the stock its 25th biggest position. First Financial Bankshares Inc’s holdings in Amgen were worth $59,700,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in AMGN. Swedbank AB increased its stake in Amgen by 1.1% in the 3rd quarter. Swedbank AB now owns 538,899 shares of the medical research company’s stock valued at $173,639,000 after buying an additional 5,751 shares during the period. Quest Partners LLC increased its stake in Amgen by 1,568.7% in the 3rd quarter. Quest Partners LLC now owns 1,919 shares of the medical research company’s stock valued at $618,000 after buying an additional 1,804 shares during the period. Joseph Group Capital Management increased its stake in Amgen by 15.7% in the 3rd quarter. Joseph Group Capital Management now owns 8,633 shares of the medical research company’s stock valued at $2,782,000 after buying an additional 1,169 shares during the period. Pathstone Holdings LLC increased its stake in Amgen by 1.7% in the 3rd quarter. Pathstone Holdings LLC now owns 98,605 shares of the medical research company’s stock valued at $31,772,000 after buying an additional 1,694 shares during the period. Finally, Caprock Group LLC increased its stake in Amgen by 6.6% in the 3rd quarter. Caprock Group LLC now owns 16,424 shares of the medical research company’s stock valued at $5,292,000 after buying an additional 1,017 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Piper Sandler Companies reissued an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research report on Thursday, January 2nd. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Truist Financial decreased their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Bank of America boosted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $314.04.

Amgen Price Performance

Shares of Amgen stock opened at $318.65 on Wednesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a fifty day moving average price of $294.12 and a two-hundred day moving average price of $298.91. The company has a market cap of $171.18 billion, a PE ratio of 42.21, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is 126.09%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan P. Graham sold 25,045 shares of the 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 sale, the executive vice president now owns 28,987 shares of the company’s stock, valued at $8,496,669.44. This trade represents a 46.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by corporate insiders.

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.