Telemus Capital LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Telemus Capital LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,326 shares of the medical research company’s stock after selling 352 shares during the period. Telemus Capital LLC’s holdings in Amgen were worth $7,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Southland Equity Partners LLC lifted its holdings in Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC lifted its holdings in Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC lifted its holdings in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares in the last quarter. Marino Stram & Associates LLC lifted its holdings in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC lifted its stake in shares of Amgen by 1.4% in the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock worth $743,000 after buying an additional 35 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. StockNews.com downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. Finally, Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $296.95.

Amgen Stock Up 1.1 %

Shares of Amgen stock opened at $271.91 on Tuesday. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a 50 day moving average of $276.45 and a 200 day moving average of $281.56. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market capitalization of $145.85 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.50 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.09 EPS. As a group, research analysts forecast that Amgen Inc. will post 19.45 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.31%. Amgen’s dividend payout ratio is presently 72.06%.

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.