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

Orion Portfolio Solutions LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,014 shares of the medical research company’s stock after selling 571 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Amgen were worth $7,302,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Amgen during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Amgen during the 3rd quarter worth $29,000. Synergy Investment Management LLC purchased a new position in Amgen during the 4th quarter worth $34,000. Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $306.95 on Friday. The company has a market capitalization of $164.90 billion, a PE ratio of 40.66, a P/E/G ratio of 2.63 and a beta of 0.53. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock’s 50 day moving average is $301.08 and its two-hundred day moving average is $298.16. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.10%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Murdo Gordon sold 8,771 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $294.79, for a total value of $2,585,603.09. Following the transaction, the executive vice president now owns 44,186 shares of the company’s stock, valued at approximately $13,025,590.94. The trade was a 16.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock valued at $20,644,335 over the last three months. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AMGN. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. StockNews.com upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $324.00 price objective on shares of Amgen in a report on Friday, January 24th. UBS Group reaffirmed a “hold” rating on shares of Amgen in a report on Wednesday, February 12th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and a consensus price target of $314.04.

About Amgen

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.