Telos Capital Management Inc. Raises Position in Amgen Inc. $AMGN

Telos Capital Management Inc. raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,672 shares of the medical research company’s stock after acquiring an additional 1,912 shares during the quarter. Telos Capital Management Inc.’s holdings in Amgen were worth $7,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of AMGN. Wealth Preservation Advisors LLC bought a new stake in shares of Amgen during the 1st quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its position in shares of Amgen by 1,214.3% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Activest Wealth Management raised its position in shares of Amgen by 3,433.3% during the 1st quarter. Activest Wealth Management now owns 106 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 103 shares during the period. Quaker Wealth Management LLC raised its position in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares during the period. Finally, Nova Wealth Management Inc. raised its position in shares of Amgen by 12,200.0% during the 1st quarter. Nova Wealth Management Inc. now owns 123 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of Amgen stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president directly owned 7,209 shares of the company’s stock, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research report on Friday, September 26th. Wall Street Zen downgraded shares of Amgen from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Raymond James Financial assumed coverage on shares of Amgen in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. Morgan Stanley lifted their price target on shares of Amgen from $330.00 to $333.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Citigroup lifted their price target on shares of Amgen from $310.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $300.94.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $298.43 on Monday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $335.88. The stock has a market capitalization of $160.66 billion, a P/E ratio of 24.40, a PEG ratio of 2.61 and a beta of 0.49. The firm has a fifty day simple moving average of $287.75 and a two-hundred day simple moving average of $287.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period last year, the company posted $4.97 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is presently 77.84%.

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.