Mattern Wealth Management LLC Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Mattern Wealth Management LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,984 shares of the medical research company’s stock after selling 430 shares during the period. Mattern Wealth Management LLC’s holdings in Amgen were worth $2,895,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Strategic Financial Concepts LLC bought a new position in Amgen during the second quarter valued at approximately $26,000. Hershey Financial Advisers LLC purchased a new position in Amgen in the 2nd quarter worth about $30,000. nVerses Capital LLC purchased a new position in Amgen in the 2nd quarter worth about $31,000. Bbjs Financial Advisors LLC purchased a new position in Amgen during the 2nd quarter valued at about $33,000. Finally, Matrix Trust Co purchased a new position in shares of Amgen in the 3rd quarter worth approximately $36,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America lifted their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein began coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 target price on the stock. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company cut shares of Amgen from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $320.00 to $335.00 in a report on Wednesday, August 7th. Finally, TD Cowen lifted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Amgen Stock Down 0.3 %

Shares of AMGN traded down $0.92 during mid-day trading on Tuesday, hitting $315.82. The company’s stock had a trading volume of 362,683 shares, compared to its average volume of 2,433,270. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company’s 50-day moving average is $326.00 and its 200-day moving average is $312.76. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $169.42 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.00 EPS. On average, equities research analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, August 16th. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

About Amgen

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.