Orion Portfolio Solutions LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Orion Portfolio Solutions LLC cut its position in Amgen Inc. (NASDAQ:AMGNGet Rating) by 6.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,268 shares of the medical research company’s stock after selling 667 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Amgen were worth $2,255,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMGN. BlackRock Inc. grew its stake in shares of Amgen by 2.1% during the fourth quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after acquiring an additional 1,032,929 shares in the last quarter. Vanguard Group Inc. grew its stake in Amgen by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 47,329,045 shares of the medical research company’s stock valued at $11,445,110,000 after purchasing an additional 668,036 shares in the last quarter. State Street Corp raised its position in shares of Amgen by 1.2% in the 1st quarter. State Street Corp now owns 30,504,420 shares of the medical research company’s stock valued at $7,376,579,000 after purchasing an additional 357,413 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amgen by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock valued at $2,132,778,000 after buying an additional 94,565 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Amgen by 8.7% during the fourth quarter. Deutsche Bank AG now owns 5,660,218 shares of the medical research company’s stock worth $1,273,380,000 after buying an additional 453,750 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Amgen in a report on Wednesday, September 14th. TheStreet upgraded shares of Amgen from a “c+” rating to a “b” rating in a research note on Monday, August 15th. Piper Sandler lifted their price target on Amgen from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Royal Bank of Canada upped their price objective on Amgen from $224.00 to $236.00 in a research note on Friday, August 5th. Finally, Morgan Stanley lifted their target price on Amgen from $239.00 to $253.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Hold” and an average price target of $241.13.

Insider Transactions at Amgen

In related news, Director R Sanders Williams sold 200 shares of Amgen stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the sale, the director now directly owns 5,301 shares in the company, valued at $1,325,037.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert Eckert sold 6,600 shares of Amgen stock in a transaction on 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 transaction, the director now directly owns 21,184 shares in the company, valued at approximately $5,274,816. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 200 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $249.96, for a total value of $49,992.00. Following the completion of the sale, the director now directly owns 5,301 shares in the company, valued at approximately $1,325,037.96. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Amgen Stock Up 1.5 %

Amgen stock opened at $227.75 on Friday. The company has a debt-to-equity ratio of 14.76, a quick ratio of 1.17 and a current ratio of 1.53. Amgen Inc. has a one year low of $198.64 and a one year high of $258.45. The company has a 50-day simple moving average of $243.40 and a 200-day simple moving average of $243.35. 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 (NASDAQ:AMGNGet Rating) last posted its earnings results on Thursday, August 4th. The medical research company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.40 by $0.25. The firm had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Amgen had a net margin of 24.92% and a return on equity of 218.34%. Amgen’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.38 EPS. As a group, equities analysts expect that Amgen Inc. will post 17.45 earnings per share for the current year.

Amgen Dividend Announcement

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

Amgen Company Profile

(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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