Telos Capital Management Inc. Purchases 797 Shares of Amgen Inc. (NASDAQ:AMGN)

Telos Capital Management Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,997 shares of the medical research company’s stock after buying an additional 797 shares during the quarter. Telos Capital Management Inc.’s holdings in Amgen were worth $6,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Capital Performance Advisors LLP bought a new position in shares of Amgen in the third quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the third quarter valued at $29,000. Matrix Trust Co bought a new position in shares of Amgen in the third quarter valued at $36,000. Heck Capital Advisors LLC bought a new position in shares of Amgen in the fourth quarter valued at $36,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Amgen in the third quarter valued at $56,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler reduced their price objective on shares of Amgen from $344.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Thursday, October 17th. They set an “outperform” rating and a $380.00 price objective for the company. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Amgen in a research report on Thursday, January 2nd. Finally, Truist Financial reduced their price objective 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $314.83.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Trading Down 3.3 %

AMGN opened at $297.78 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a 50-day simple moving average of $271.69 and a 200 day simple moving average of $303.55. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. The stock has a market capitalization of $160.07 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.87 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Analysts predict that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is 126.09%.

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.