Matrix Asset Advisors Inc. NY Sells 3,739 Shares of Amgen Inc. $AMGN

Key Points

• Matrix Asset Advisors Inc. NY cut its Amgen stake by 3.6% in the first quarter, selling 3,739 shares and leaving it with 99,810 shares worth about $35.1 million. Amgen remains its 11th-largest holding and accounts for roughly 3.2% of its portfolio.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year. The company also provided FY 2026 EPS guidance of 21.7 to 23.1.
• Sentiment on Amgen is mixed: analysts currently rate the stock a Hold on average with a $354.42 price target, while institutional ownership remains high at 76.5%. An Amgen executive also sold shares recently, reducing insider ownership slightly.

Matrix Asset Advisors Inc. NY trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,810 shares of the medical research company's stock after selling 3,739 shares during the period. Amgen makes up approximately 3.2% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 11th largest position. Matrix Asset Advisors Inc. NY's holdings in Amgen were worth $35,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. High Note Wealth LLC raised its stake in Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after buying an additional 28 shares during the last quarter. TAGStone Capital Inc. grew its stake in shares of Amgen by 0.7% in the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock worth $1,351,000 after acquiring an additional 28 shares during the last quarter. Verus Capital Partners LLC grew its stake in shares of Amgen by 2.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after acquiring an additional 28 shares during the last quarter. Destination Wealth Management increased its holdings in shares of Amgen by 2.1% during the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock valued at $456,000 after acquiring an additional 29 shares in the last quarter. Finally, Breakwater Capital Group increased its holdings in shares of Amgen by 1.4% during the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company's stock valued at $717,000 after acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

Amgen Trading Up 0.1%

Shares of NASDAQ:AMGN opened at $358.61 on Monday. The stock's 50-day simple moving average is $340.70 and its two-hundred day simple moving average is $346.38. The stock has a market capitalization of $193.54 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.60 and a beta of 0.42. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the firm earned $4.90 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts expect that Amgen Inc. will post 22.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. Royal Bank Of Canada reiterated a "positive" rating on shares of Amgen in a research note on Thursday, June 18th. Morgan Stanley raised their price objective on shares of Amgen from $332.00 to $340.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 9th. Argus decreased their target price on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Guggenheim dropped their target price on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. Finally, UBS Group raised their price target on shares of Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $354.42.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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