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

Matrix Asset Advisors Inc. NY increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 96.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,022 shares of the medical research company’s stock after acquiring an additional 45,573 shares during the quarter. Amgen makes up about 2.6% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 14th largest position. Matrix Asset Advisors Inc. NY’s holdings in Amgen were worth $24,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Talbot Financial LLC boosted its holdings in shares of Amgen by 5.6% in the 4th quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company’s stock worth $11,153,000 after buying an additional 2,274 shares during the last quarter. Swiss National Bank raised its position in Amgen by 0.3% in the third quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the period. Asset Advisors Investment Management LLC raised its position in Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock worth $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. boosted its stake in Amgen by 6.0% in the third quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after acquiring an additional 35,785 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Amgen by 3.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after acquiring an additional 1,872 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMGN. Bank of America reiterated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research note on Tuesday, December 10th. Piper Sandler dropped their price target on Amgen from $344.00 to $310.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Truist Financial cut their target price on shares of Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $314.00.

Amgen Trading Up 2.7 %

AMGN stock opened at $282.95 on Tuesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market capitalization of $152.09 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.78 and a beta of 0.56. The company’s 50 day moving average price is $271.39 and its two-hundred day moving average price is $305.81. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 19.56 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.36%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.