Ritholtz Wealth Management Has $4.08 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Ritholtz Wealth Management grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,090 shares of the medical research company's stock after acquiring an additional 2,159 shares during the quarter. Ritholtz Wealth Management's holdings in Amgen were worth $4,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% in the 4th 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 last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock traded down $2.07 during trading on Friday, hitting $295.22. The stock had a trading volume of 2,191,182 shares, compared to its average volume of 2,820,660. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $158.74 billion, a P/E ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day moving average of $281.33 and a two-hundred day moving average of $285.62. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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 business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.96 earnings per share. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. UBS Group restated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $309.22.

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.