Telemus Capital LLC Sells 352 Shares of Amgen Inc. (NASDAQ:AMGN)

Telemus Capital LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AMGN shares. Morgan Stanley dropped their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. Raymond James began coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $329.00 price target on shares of Amgen in a report on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Trading Up 1.1 %

NASDAQ AMGN opened at $271.91 on Tuesday. Amgen Inc. has a 12 month low of $211.71 and a 12 month high of $329.72. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14. The business’s 50-day moving average price is $276.45 and its two-hundred day moving average price is $281.56. The firm has a market capitalization of $145.85 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the company earned $4.09 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.45 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a $2.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.31%. Amgen’s payout ratio is currently 72.06%.

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.