Laffer Investments Increased Amgen INC (AMGN) Stake by $270.41 Million as Shares Declined

May 16, 2018 - By Matthew Medley

Amgen Inc. (NASDAQ:AMGN) Corporate LogoBig Money Sentiment increased to 1.22 in 2017 Q4. It has change of 0.23, from 2017Q3’s 0.99. The ratio improved due to AMGN positioning: 73 sold and 458 reduced. 122 funds amassed stakes and 527 increased stakes. Investors holded 555.05 million in 2017Q3 but now own 551.71 million shares or 0.60% less. Curbstone Finance Mngmt invested in 0.13% or 1,385 shs. First Long Island Invsts Ltd Llc invested in 3.08% or 130,469 shs. Liberty Mutual Grp Asset Management Inc stated it has 29,082 shs. 23,383 were accumulated by Pittenger And Anderson. Lazard Asset Management Ltd Liability Corporation holds 76,517 shs or 0.03% of its capital. Usca Ria Limited Liability Corporation reported 0.63% stake. 1,600 were accumulated by Intact Investment Mngmt. Wilkins Invest Counsel stated it has 0.21% of its capital in Amgen Inc. (NASDAQ:AMGN). Umb Natl Bank N A Mo accumulated 126,348 shs. Rafferty Asset Mgmt Limited Com accumulated 8,458 shs. Morgan Stanley holds 0.41% of its capital in Amgen Inc. (NASDAQ:AMGN) for 8.64M shs. 66,319 are owned by Shell Asset. Exane Derivatives has 3,953 shs for 0.12% of their capital. First Western Communications holds 0.37% or 3,704 shs in its capital. Highlander Capital Mgmt Ltd Liability Company stated it has 0.28% of its capital in Amgen Inc. (NASDAQ:AMGN).

AMGN had 5 selling transactions and 0 insider purchases since December 12, 2017. This’s net activity of $1.37 million.

According to 2017Q4 Securities and Exchange form the Laffer Investments rose its holdings in Amgen Inc (AMGN) by 60.06%. 1,555 shares were bought by Laffer Investments as the company’s stock declined 2.99% with the market. The biological products (no diagnostic substances) company at the end of 2017Q4 was priced at $720.64 million. It’s up from 2,589 at the end of the previous reported quarter. Now it had 4,144 shares held by the institutional investor . $115.75B is the MC of Amgen Inc. The stock increased 1.63% or $2.78 during the last trading session, reaching $173.8.Amgen Inc. has volume of 2.13 million shares. Since May 16, 2017 AMGN has risen 3.78% and is uptrending. The stock underperformed the S&P 500 by 7.77%.

According to a filing Laffer Investments reduced its stake in Bce Inc (NYSE:BCE) by 1,471 shares to 14,811 shares, valued at $711.08 million in 2017Q4. The fund manages about $614.32M and $399.05 billion US Long portfolio. Laffer Investments has cut its stake in United Parcel Services (NYSE:UPS) and also reduced its holding in Allergan Plc by 263 shares in the quarter, for a total of 4,875 shares.

Another two news for Amgen Inc. (NASDAQ:AMGN) were recently released by: on May 15, 2018 with title “Better Buy: Amgen Inc. vs. Biogen Inc.”. The other‘s article was titled “Expanded label for Amgen’s Repatha approved in Europe” and released on May 16, 2018.

Amgen Inc. (NASDAQ:AMGN) Ratings Coverage

Total analysts of 14 have positions in Amgen Inc (NASDAQ:AMGN) as follows: 7 rated it a “Buy”, 0 with “Sell” and 7 with “Hold”. The positive are 50%. Since December 15, 2017 according to StockzIntelligence Inc Amgen Inc has 17 analyst reports. On Thursday, January 18 the rating was maintained by Piper Jaffray with “Buy”. In Wednesday, January 24 report JP Morgan maintained the stock with “Neutral” rating. On Monday, January 22 the stock has “Hold” rating by RBC Capital Markets. In Monday, February 12 report Mizuho maintained it with “Buy” rating and $200.0 target. On Thursday, February 1 the stock of Amgen Inc. (NASDAQ:AMGN) earned “Buy” rating by Piper Jaffray. The stock rating was maintained by Morgan Stanley with “Overweight” on Friday, February 2. In Friday, February 2 report Credit Suisse maintained the stock with “Neutral” rating. On Friday, February 2 the rating was maintained by BMO Capital Markets with “Market Perform”. On Thursday, February 1 the firm earned “Buy” rating by Cowen & Co. In Tuesday, January 23 report Argus Research upgraded the stock to “Buy” rating.

Amgen Inc. (NASDAQ:AMGN) Institutional Investors Chart

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