LS Investment Advisors LLC Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

LS Investment Advisors LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,910 shares of the medical research company’s stock after selling 18,751 shares during the quarter. Amgen comprises approximately 1.6% of LS Investment Advisors LLC’s portfolio, making the stock its 23rd biggest holding. LS Investment Advisors LLC’s holdings in Amgen were worth $12,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the company. Regency Capital Management Inc. DE acquired a new position in Amgen in the first quarter valued at $27,000. Maverick Capital Ltd. acquired a new position in Amgen in the first quarter valued at $27,000. Elmwood Wealth Management Inc. acquired a new stake in Amgen during the first quarter worth about $31,000. Wolverine Asset Management LLC increased its stake in Amgen by 1,587.5% during the first quarter. Wolverine Asset Management LLC now owns 135 shares of the medical research company’s stock worth $33,000 after acquiring an additional 127 shares during the last quarter. Finally, KB Financial Partners LLC acquired a new stake in Amgen during the first quarter worth about $35,000. Institutional investors and hedge funds own 74.73% of the company’s stock.

Shares of Amgen stock traded up $2.22 on Tuesday, reaching $217.33. 33,017 shares of the company were exchanged, compared to its average volume of 2,608,720. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.03 and a current ratio of 1.31. The company’s 50-day moving average is $230.60 and its two-hundred day moving average is $239.86. The firm has a market cap of $123.41 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.55 and a beta of 0.68. Amgen Inc. has a 1-year low of $210.28 and a 1-year high of $276.69.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $0.29. Amgen had a return on equity of 99.85% and a net margin of 22.55%. The business had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.43 billion. As a group, sell-side analysts forecast that Amgen Inc. will post 16.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Tuesday, August 17th were given a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, August 16th. Amgen’s dividend payout ratio is currently 42.41%.

Several equities research analysts have recently weighed in on the company. Oppenheimer upped their target price on Amgen from $272.00 to $277.00 and gave the stock an “outperform” rating in a research report on Monday, June 7th. Zacks Investment Research raised Amgen from a “sell” rating to a “hold” rating and set a $255.00 target price for the company in a research report on Tuesday, June 29th. William Blair reaffirmed a “hold” rating on shares of Amgen in a research report on Friday. BMO Capital Markets upped their target price on Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a research report on Monday, May 31st. Finally, Robert W. Baird reaffirmed a “sell” rating on shares of Amgen in a research report on Thursday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $249.70.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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