Texas Bank & Trust Co Acquires New Position in Amgen Inc. (NASDAQ:AMGN)

Texas Bank & Trust Co acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 849 shares of the medical research company’s stock, valued at approximately $221,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Beck Mack & Oliver LLC increased its stake in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares during the last quarter. Blossom Wealth Management grew its stake in shares of Amgen by 3.5% during the fourth quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company’s stock worth $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its stake in shares of Amgen by 2.8% during the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after buying an additional 37 shares during the last quarter. Trillium Asset Management LLC grew its stake in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after buying an additional 37 shares during the last quarter. Finally, Evermay Wealth Management LLC grew its stake in shares of Amgen by 1.5% during the fourth quarter. Evermay Wealth Management LLC now owns 2,650 shares of the medical research company’s stock worth $691,000 after buying an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In other news, EVP David M. Reese sold 25,225 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. This represents a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on AMGN shares. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Royal Bank of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $310.18.

Amgen Price Performance

AMGN stock opened at $272.41 on Monday. The firm has a market cap of $146.48 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company’s fifty day simple moving average is $291.00 and its 200 day simple moving average is $287.86.

Amgen (NASDAQ:AMGN) last released its 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. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.49%. Amgen’s payout ratio is 86.86%.

Amgen 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.