Alta Capital Management Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Alta Capital Management reduced its stake in Amgen by 11.03% during the most recent quarter end. The investment management company now holds a total of 3,467 shares of Amgen which is valued at $565,780 after selling 430 shares in Amgen , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Amgen makes up approximately 0.03% of Alta Capital Management’s portfolio.

Amgen closed down -1.85 points or -1.14% at $161 with 27,29,473 shares getting traded on Wednesday. Post opening the session at $162.72, the shares hit an intraday low of $160.5 and an intraday high of $162.9 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in AMGN by selling 2,170 shares or 3.47% in the most recent quarter. The Hedge Fund company now holds 60,281 shares of AMGN which is valued at $9,837,256. Amgen makes up approx 0.52% of Seaward Management Limited Partnership’s portfolio. Randolph Co Inc sold out all of its stake in AMGN during the most recent quarter. The investment firm sold 109,050 shares of AMGN which is valued $17,795,870.Exencial Wealth Advisors boosted its stake in AMGN in the latest quarter, The investment management firm added 82 additional shares and now holds a total of 2,335 shares of Amgen which is valued at $381,049. Amgen makes up approx 0.18% of Exencial Wealth Advisors’s portfolio. Starfire Investment Advisers added AMGN to its portfolio by purchasing 2,050 company shares during the most recent quarter which is valued at $328,267. Amgen makes up approx 0.21% of Starfire Investment Advisers’s portfolio.

On the company’s financial health, Amgen reported $2.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $2.29. The company had revenue of $5536.00 million for the quarter, compared to analysts expectations of $5534.94 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS.

Investors should note that on Mar 2, 2016, Amgen announced a cash dividend of $1.0000. The company’s management has announced May 13, 2016 as the ex-dividend date and fixed the record date on May 17, 2016. The payable date has been fixed on Jun 8, 2016.

Many Wall Street Analysts have commented on Amgen. Citigroup Initiated Amgen on Feb 25, 2016 to “Neutral”, Price Target of the shares are set at $165.Shares were Reiterated by Argus on Feb 8, 2016 to “Buy” and Lowered the Price Target to $ 185 from a previous price target of $202 .

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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