Matrix Asset Advisors Inc. NY Purchases 4,292 Shares of Amgen Inc. (NASDAQ:AMGN)

Matrix Asset Advisors Inc. NY raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,314 shares of the medical research company's stock after acquiring an additional 4,292 shares during the period. Amgen comprises about 3.3% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 8th largest holding. Matrix Asset Advisors Inc. NY's holdings in Amgen were worth $30,318,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new position in Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in Amgen in the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new position in Amgen in the fourth quarter valued at about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.69% of the company's stock.

Amgen Stock Down 0.1%

AMGN traded down $0.30 on Friday, hitting $289.33. 6,801,322 shares of the company were exchanged, compared to its average volume of 2,818,791. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock's fifty day moving average is $281.82 and its 200-day moving average is $286.10. The company has a market cap of $155.58 billion, a PE ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.96 earnings per share. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price for the company. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Finally, Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $309.22.

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.