Cranbrook Wealth Management Exits Position in Amgen (AMGN)

Amgen (AMGN) : Cranbrook Wealth Management has sold out all of its stake in Amgen during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 100 shares of Amgen which is valued at $17,343.

Other Hedge Funds, Including , New Jersey Better Educational Savings Trust boosted its stake in AMGN in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 6,200 shares of Amgen which is valued at $1,075,266. Amgen makes up approx 0.69% of New Jersey Better Educational Savings Trust’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in AMGN by selling 13,170 shares or 6.63% in the most recent quarter. The Hedge Fund company now holds 185,545 shares of AMGN which is valued at $32,179,069. Amgen makes up approx 0.41% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Wespac Advisors boosted its stake in AMGN in the latest quarter, The investment management firm added 1,813 additional shares and now holds a total of 10,291 shares of Amgen which is valued at $1,756,468. Amgen makes up approx 1.78% of Wespac Advisors’s portfolio.

Amgen closed down -1.32 points or -0.76% at $172.34 with 27,06,525 shares getting traded on Monday. Post opening the session at $173.31, the shares hit an intraday low of $171.83 and an intraday high of $174.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Amgen reported $2.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.74. The company had revenue of $5688.00 million for the quarter, compared to analysts expectations of $5579.33 million. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 EPS.

Investors should note that on Jul 22, 2016, Amgen announced a cash dividend of $1.0000. The company’s management has announced Aug 15, 2016 as the ex-dividend date and fixed the record date on Aug 17, 2016. The payable date has been fixed on Sep 8, 2016.

Many Wall Street Analysts have commented on Amgen. Amgen was Initiated by Bernstein to “Mkt Perform” on Jun 29, 2016.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering developing manufacturing and delivering human therapeutics. The Company’s sales and marketing forces are located in the United States and Europe. In the United States it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising as well as through the Internet. Outside the United States the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Company’s products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim) Enbrel (etanercept) XGEVA/Prolia (denosumab) ESAs (erythropoiesis-stimulating agents) Sensipar/Mimpara (cinacalcet) Kyprolis and Evolocumab among others.

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