Edgar Lomax Co. VA Sells 9,305 Shares of Amgen Inc. $AMGN

by · The Cerbat Gem

Edgar Lomax Co. VA lowered its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 132,385 shares of the medical research company’s stock after selling 9,305 shares during the quarter. Amgen accounts for about 2.6% of Edgar Lomax Co. VA’s investment portfolio, making the stock its 15th biggest holding. Edgar Lomax Co. VA’s holdings in Amgen were worth $41,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Nuveen LLC acquired a new stake in Amgen during the 1st quarter worth about $688,868,000. Northern Trust Corp boosted its stake in shares of Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after acquiring an additional 875,254 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Amgen by 96.9% in the 4th quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company’s stock valued at $402,845,000 after buying an additional 760,700 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Amgen in the 4th quarter worth approximately $193,339,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $296.47 on Monday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The firm has a fifty day moving average of $293.30 and a two-hundred day moving average of $293.10. The company has a debt-to-equity ratio of 7.24, a current ratio of 1.31 and a quick ratio of 0.98. The firm has a market cap of $159.61 billion, a P/E ratio of 24.24, a P/E/G ratio of 2.55 and a beta of 0.49.

Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.28 by $0.74. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a net margin of 18.96% and a return on equity of 174.71%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.97 EPS. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen’s payout ratio is currently 77.84%.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Royal Bank Of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Citigroup upped their price target on shares of Amgen from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Finally, Bank of America upped their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $303.76.

Get Our Latest Stock Analysis on Amgen

Amgen Profile

(Free Report)

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.

Further Reading

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