Cambridge Advisors Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Cambridge Advisors reduced its stake in Amgen by 0.89% during the most recent quarter end. The investment management company now holds a total of 27,504 shares of Amgen which is valued at $4,694,383 after selling 247 shares in Amgen , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Amgen makes up approximately 2.09% of Cambridge Advisors’s portfolio.

Other Hedge Funds, Including , Palouse Capital Management added AMGN to its portfolio by purchasing 34,309 company shares during the most recent quarter which is valued at $5,855,860. Amgen makes up approx 2.27% of Palouse Capital Management’s portfolio.Baring Asset Management Ltd reduced its stake in AMGN by selling 451 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 49,992 shares of AMGN which is valued at $8,532,635. Amgen makes up approx 0.67% of Baring Asset Management Ltd’s portfolio.Private Bank Trust Co reduced its stake in AMGN by selling 25 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 4,507 shares of AMGN which is valued at $734,326. Amgen makes up approx 0.11% of Private Bank Trust Co’s portfolio.Factory Mutual Insurance Co reduced its stake in AMGN by selling 14,000 shares or 7.84% in the most recent quarter. The Hedge Fund company now holds 164,600 shares of AMGN which is valued at $26,421,592. Amgen makes up approx 0.34% of Factory Mutual Insurance Co’s portfolio.Jacobs Coca boosted its stake in AMGN in the latest quarter, The investment management firm added 2,270 additional shares and now holds a total of 37,783 shares of Amgen which is valued at $6,064,927. Amgen makes up approx 1.39% of Jacobs Coca’s portfolio.

Amgen opened for trading at $171.57 and hit $172.26 on the upside on Friday, eventually ending the session at $172.03, with a gain of 0.44% or 0.75 points. The heightened volatility saw the trading volume jump to 31,21,594 shares. Company has a market cap of $129,232 M.

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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