Ball & Co Wealth Management Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Ball & Co Wealth Management Inc. purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,245 shares of the medical research company's stock, valued at approximately $3,712,000. Amgen accounts for approximately 3.0% of Ball & Co Wealth Management Inc.'s portfolio, making the stock its 7th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen during the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in shares of Amgen during the 4th quarter worth $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen during the 4th quarter worth $34,000. Institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Citigroup restated a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald initiated 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. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $309.22.

Amgen Trading Up 2.9%

Shares of NASDAQ:AMGN traded up $7.79 on Tuesday, hitting $279.45. 2,917,052 shares of the company's stock were exchanged, compared to its average volume of 2,796,422. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market capitalization of $150.26 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business's 50 day simple moving average is $285.94 and its two-hundred day simple moving average is $285.86. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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 for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 earnings per share. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.41%. Amgen's dividend payout ratio is presently 86.86%.

Amgen Company 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.