Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Orion Capital Management LLC

Orion Capital Management LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 45.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,285 shares of the medical research company’s stock after buying an additional 400 shares during the period. Orion Capital Management LLC’s holdings in Amgen were worth $370,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Concord Wealth Partners raised its stake in Amgen by 36.7% in the 4th quarter. Concord Wealth Partners now owns 6,741 shares of the medical research company’s stock valued at $1,941,000 after purchasing an additional 1,809 shares during the last quarter. ICW Investment Advisors LLC raised its stake in Amgen by 0.6% in the 4th quarter. ICW Investment Advisors LLC now owns 8,589 shares of the medical research company’s stock valued at $2,474,000 after purchasing an additional 47 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after purchasing an additional 109 shares during the last quarter. PYA Waltman Capital LLC raised its stake in Amgen by 7.0% in the 4th quarter. PYA Waltman Capital LLC now owns 8,194 shares of the medical research company’s stock valued at $2,360,000 after purchasing an additional 539 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Amgen by 3.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 3,104 shares of the medical research company’s stock valued at $894,000 after purchasing an additional 100 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 2.1 %

Amgen stock traded up $5.70 during midday trading on Wednesday, reaching $279.64. 1,301,479 shares of the stock traded hands, compared to its average volume of 2,796,387. The company has a 50-day simple moving average of $274.76 and a two-hundred day simple moving average of $281.37. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72. The firm has a market cap of $149.99 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.13 billion. During the same period last year, the business posted $4.09 EPS. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is 72.06%.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. SVB Leerink downgraded Amgen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $324.00 to $318.00 in a research note on Wednesday, February 7th. UBS Group cut their target price on Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $297.40.

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.