Amgen Inc. $AMGN Shares Bought by Matrix Asset Advisors Inc. NY

Key Points

• Matrix Asset Advisors Inc. increased its stake in Amgen Inc. by 4.4% during the second quarter, bringing their total shares to 101,598 and making Amgen the 13th largest holding in their investment portfolio.
• Amgen reported a quarterly earnings per share (EPS) of $6.02, exceeding the analysts' expectations of $5.28, with a revenue of $9.18 billion for the quarter.
• The company announced a quarterly dividend of $2.38 per share, representing an annualized yield of 3.2% with a payout ratio of 77.84%.

Matrix Asset Advisors Inc. NY boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,598 shares of the medical research company's stock after acquiring an additional 4,284 shares during the period. Amgen comprises 2.9% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 13th biggest holding. Matrix Asset Advisors Inc. NY's holdings in Amgen were worth $28,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairvoy Private Wealth LLC grew its holdings in Amgen by 1.1% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,171 shares of the medical research company's stock worth $885,000 after acquiring an additional 35 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in shares of Amgen by 3.2% in the 2nd quarter. Crumly & Associates Inc. now owns 1,146 shares of the medical research company's stock valued at $320,000 after buying an additional 36 shares in the last quarter. Maryland Capital Advisors Inc. boosted its holdings in shares of Amgen by 5.2% in the 2nd quarter. Maryland Capital Advisors Inc. now owns 732 shares of the medical research company's stock valued at $204,000 after buying an additional 36 shares in the last quarter. Accredited Investors Inc. boosted its holdings in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after buying an additional 37 shares in the last quarter. Finally, Rockline Wealth Management LLC boosted its holdings in shares of Amgen by 3.2% in the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock valued at $386,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.5%

Shares of Amgen stock opened at $293.85 on Wednesday. The company has a market cap of $158.20 billion, a P/E ratio of 24.03, a PEG ratio of 2.54 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. Amgen Inc. has a one year low of $253.30 and a one year high of $335.88. The firm has a fifty day moving average of $286.46 and a two-hundred day moving average of $287.37.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $9.18 billion during 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%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a dividend of $2.38 per share. The ex-dividend date was Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen's dividend payout ratio is presently 77.84%.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler upped their target price on shares of Amgen from $328.00 to $342.00 and gave the company an "overweight" rating in a report on Monday, August 25th. UBS Group lowered their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Bank of America upped their target price on shares of Amgen from $261.00 to $272.00 and gave the company an "underperform" rating in a report on Friday, September 26th. Finally, Weiss Ratings upgraded shares of Amgen from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $309.42.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,267 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This trade represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.69% of the company's stock.

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.

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