Texas Capital Bancshares Inc TX Purchases Shares of 890 Amgen Inc. (NASDAQ:AMGN)

Texas Capital Bancshares Inc TX purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGNFree Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 890 shares of the medical research company’s stock, valued at approximately $239,000.

Other institutional investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the 3rd quarter valued at about $26,000. OFI Invest Asset Management purchased a new position in shares of Amgen in the third quarter worth approximately $26,000. Providence Capital Advisors LLC purchased a new position in shares of Amgen in the third quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Amgen in the first quarter worth approximately $28,000. Finally, Carmel Capital Partners LLC boosted its holdings in shares of Amgen by 296.6% in the third quarter. Carmel Capital Partners LLC now owns 115 shares of the medical research company’s stock worth $31,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Amgen from $303.00 to $329.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Oppenheimer reissued an “outperform” rating and issued a $350.00 price objective on shares of Amgen in a report on Thursday, February 1st. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. The Goldman Sachs Group lifted their price target on shares of Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $295.30.

View Our Latest Analysis on Amgen

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,096 shares of Amgen stock in a transaction on Monday, December 4th. The shares were sold at an average price of $273.03, for a total transaction of $572,270.88. Following the completion of the transaction, the senior vice president now directly owns 10,874 shares of the company’s stock, valued at $2,968,928.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by insiders.

Amgen Price Performance

AMGN traded down $1.03 during trading hours on Wednesday, hitting $277.46. The company’s stock had a trading volume of 3,026,313 shares, compared to its average volume of 3,012,291. The business’s 50-day moving average price is $298.32 and its 200-day moving average price is $278.24. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The stock has a market cap of $148.70 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.78 and a beta of 0.62. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGNGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the previous year, the business posted $4.09 earnings per share. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts expect that Amgen Inc. will post 19.51 earnings per share for the current fiscal year.

Amgen Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Shareholders of record on Friday, February 16th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.24%. This is a positive change from Amgen’s previous quarterly dividend of $2.13. The ex-dividend date is Thursday, February 15th. Amgen’s payout ratio is presently 72.06%.

About Amgen

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

See Also

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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