Pillar Pacific Capital Management buys $7,739,465 stake in Amgen (AMGN)

Amgen (AMGN) : Pillar Pacific Capital Management scooped up 930 additional shares in Amgen during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 50,522 shares of Amgen which is valued at $7,739,465.Amgen makes up approximately 1.35% of Pillar Pacific Capital Management’s portfolio.

Other Hedge Funds, Including , United Bank Va boosted its stake in AMGN in the latest quarter, The investment management firm added 6,914 additional shares and now holds a total of 22,530 shares of Amgen which is valued at $3,566,499. Amgen makes up approx 3.59% of United Bank Va’s portfolio. Sonata Capital Group Inc sold out all of its stake in AMGN during the most recent quarter. The investment firm sold 1,262 shares of AMGN which is valued $199,775.1st Source Bank reduced its stake in AMGN by selling 17 shares or 0.47% in the most recent quarter. The Hedge Fund company now holds 3,633 shares of AMGN which is valued at $575,104. Amgen makes up approx 0.06% of 1st Source Bank’s portfolio.

Amgen opened for trading at $155.95 and hit $157.5 on the upside on Tuesday, eventually ending the session at $157.24, with a gain of 1.18% or 1.83 points. The heightened volatility saw the trading volume jump to 25,85,002 shares. Company has a market cap of $118,121 M.

On the company’s financial health, Amgen reported $2.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $2.61. The company had revenue of $5527.00 million for the quarter, compared to analysts expectations of $5321.84 million. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.48 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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