Matrix Asset Advisors Inc. NY Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Matrix Asset Advisors Inc. NY increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,068 shares of the medical research company’s stock after buying an additional 3,845 shares during the period. Amgen comprises approximately 1.7% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 25th biggest holding. Matrix Asset Advisors Inc. NY’s holdings in Amgen were worth $14,081,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Horizon Financial Services LLC purchased a new position in Amgen in the first quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the 4th quarter valued at approximately $29,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter worth approximately $29,000. Delos Wealth Advisors LLC grew its position in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of Amgen by 56.9% in the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AMGN. TD Cowen increased their price objective on shares of Amgen from $360.00 to $381.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 price objective (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Mizuho lifted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Finally, UBS Group boosted their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $326.89.

Amgen Stock Performance

Amgen stock traded down $2.49 during midday trading on Monday, reaching $320.00. 1,828,669 shares of the stock traded hands, compared to its average volume of 2,641,218. Amgen Inc. has a fifty-two week low of $248.38 and a fifty-two week high of $346.85. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a market cap of $171.66 billion, a price-to-earnings ratio of 45.71, a PEG ratio of 2.78 and a beta of 0.58. The firm has a fifty day moving average price of $318.64 and a two-hundred day moving average price of $298.86.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm posted $5.00 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

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.