Matrix Asset Advisors Inc. NY Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Matrix Asset Advisors Inc. NY increased its position in Amgen Inc. (NASDAQ:AMGN) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,068 shares of the medical research company’s stock after buying an additional 3,845 shares during the period. Amgen accounts for about 1.7% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 25th biggest position. Matrix Asset Advisors Inc. NY’s holdings in Amgen were worth $14,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BIP Wealth LLC increased its holdings in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after buying an additional 32 shares in the last quarter. RFP Financial Group LLC raised its holdings in Amgen by 17.1% in the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after purchasing an additional 32 shares during the period. Marino Stram & Associates LLC raised its holdings in Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after purchasing an additional 34 shares during the period. NTV Asset Management LLC boosted its position in Amgen by 0.3% during the first quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock worth $3,116,000 after purchasing an additional 34 shares in the last quarter. Finally, Texas Yale Capital Corp. grew its holdings in Amgen by 0.3% in the first quarter. Texas Yale Capital Corp. now owns 10,097 shares of the medical research company’s stock valued at $2,871,000 after purchasing an additional 34 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMGN shares. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Bank of America increased their target price on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Argus lifted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $326.89.

Amgen Trading Down 0.8 %

Shares of AMGN stock traded down $2.49 on Monday, hitting $320.00. The stock had a trading volume of 1,828,669 shares, compared to its average volume of 2,641,218. The company’s 50 day moving average price is $318.64 and its 200-day moving average price is $298.86. Amgen Inc. has a 1 year low of $248.38 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The firm has a market capitalization of $171.66 billion, a P/E ratio of 45.71, a P/E/G ratio of 2.78 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.35 billion. During the same period in the prior year, the business earned $5.00 EPS. The business’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Amgen Dividend Announcement

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

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.