Orion Portfolio Solutions LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Orion Portfolio Solutions LLC trimmed its position in Amgen Inc. (NASDAQ:AMGNGet Rating) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,268 shares of the medical research company’s stock after selling 667 shares during the period. Orion Portfolio Solutions LLC’s holdings in Amgen were worth $2,255,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in Amgen by 16.7% during the second quarter. Private Advisor Group LLC now owns 64,413 shares of the medical research company’s stock worth $15,672,000 after buying an additional 9,239 shares in the last quarter. AIA Group Ltd boosted its position in shares of Amgen by 40.4% during the 1st quarter. AIA Group Ltd now owns 2,938 shares of the medical research company’s stock valued at $710,000 after acquiring an additional 845 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC increased its position in Amgen by 905.2% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,156 shares of the medical research company’s stock worth $280,000 after purchasing an additional 1,041 shares during the last quarter. IndexIQ Advisors LLC raised its stake in Amgen by 2.3% during the first quarter. IndexIQ Advisors LLC now owns 10,095 shares of the medical research company’s stock worth $2,441,000 after purchasing an additional 225 shares during the period. Finally, Quilter Plc boosted its holdings in Amgen by 3.0% in the 1st quarter. Quilter Plc now owns 5,158 shares of the medical research company’s stock valued at $1,248,000 after purchasing an additional 150 shares during the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Morgan Stanley increased their price objective on Amgen from $239.00 to $253.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. Atlantic Securities cut their price objective on Amgen from $190.00 to $182.00 and set an “underweight” rating for the company in a research report on Tuesday, August 9th. Royal Bank of Canada upped their target price on shares of Amgen from $224.00 to $236.00 in a research report on Friday, August 5th. Robert W. Baird reissued an “underperform” rating and issued a $185.00 price target on shares of Amgen in a research note on Tuesday, September 13th. Finally, TheStreet raised shares of Amgen from a “c+” rating to a “b” rating in a research report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $241.13.

Amgen Price Performance

AMGN stock opened at $227.75 on Friday. The business’s 50-day moving average is $243.40 and its two-hundred day moving average is $243.35. The company has a debt-to-equity ratio of 14.76, a current ratio of 1.53 and a quick ratio of 1.17. The firm has a market capitalization of $121.83 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.84 and a beta of 0.56. Amgen Inc. has a 1 year low of $198.64 and a 1 year high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last issued its earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The firm had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same quarter last year, the company earned $4.38 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 17.45 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were issued a $1.94 dividend. This represents a $7.76 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, August 17th. Amgen’s dividend payout ratio (DPR) is presently 65.76%.

Insider Buying and Selling at Amgen

In other news, Director Robert Eckert sold 6,600 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the transaction, the director now directly owns 21,184 shares of the company’s stock, valued at approximately $5,274,816. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert Eckert sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $249.00, for a total transaction of $1,643,400.00. Following the completion of the sale, the director now owns 21,184 shares in the company, valued at approximately $5,274,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 200 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the completion of the transaction, the director now directly owns 5,301 shares in the company, valued at $1,325,037.96. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

About Amgen

(Get Rating)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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