Orion Capital Management LLC Buys 400 Shares of Amgen Inc. (NASDAQ:AMGN)

Orion Capital Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 45.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. BIP Wealth LLC increased its stake in shares of Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares during the last quarter. Southland Equity Partners LLC increased its stake in shares of Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC increased its stake in shares of Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares during the last quarter. Opal Wealth Advisors LLC boosted its holdings in shares of Amgen by 1.9% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after buying an additional 34 shares during the period. Finally, Marino Stram & Associates LLC boosted its holdings in shares of Amgen by 0.7% during the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen reduced their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Morgan Stanley lowered their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $350.00 target price on shares of Amgen in a research note on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $297.40.

Amgen Stock Up 2.1 %

Shares of NASDAQ AMGN traded up $5.70 during mid-day trading on Wednesday, reaching $279.64. 1,301,479 shares of the company’s stock traded hands, compared to its average volume of 2,796,387. The stock has a market cap of $149.99 billion, a P/E ratio of 22.08, a PEG ratio of 2.67 and a beta of 0.58. The business has a 50-day simple moving average of $274.76 and a 200 day simple moving average of $281.37. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Amgen 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.