Spinnaker Trust Lowers stake in Amgen (AMGN)

Amgen (AMGN) : Spinnaker Trust reduced its stake in Amgen by 8.62% during the most recent quarter end. The investment management company now holds a total of 8,481 shares of Amgen which is valued at $1,470,860 after selling 800 shares in Amgen , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Amgen makes up approximately 0.20% of Spinnaker Trust’s portfolio.

Other Hedge Funds, Including , Integrated Wealth Management boosted its stake in AMGN in the latest quarter, The investment management firm added 3 additional shares and now holds a total of 930 shares of Amgen which is valued at $161,290. Amgen makes up approx 0.06% of Integrated Wealth Management’s portfolio.Sol Capital Management Co reduced its stake in AMGN by selling 850 shares or 21.6% in the most recent quarter. The Hedge Fund company now holds 3,086 shares of AMGN which is valued at $530,885. Amgen makes up approx 0.16% of Sol Capital Management Co’s portfolio.Narwhal Capital Management boosted its stake in AMGN in the latest quarter, The investment management firm added 2,350 additional shares and now holds a total of 12,595 shares of Amgen which is valued at $2,149,715. Amgen makes up approx 0.66% of Narwhal Capital Management’s portfolio.Goelzer Investment Management boosted its stake in AMGN in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 1,604 shares of Amgen which is valued at $265,735. Amgen makes up approx 0.04% of Goelzer Investment Management’s portfolio.Leavell Investment Management boosted its stake in AMGN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 12,410 shares of Amgen which is valued at $2,025,933. Amgen makes up approx 0.29% of Leavell Investment Management’s portfolio.

Amgen closed down -0.76 points or -0.44% at $172.67 with 21,22,162 shares getting traded on Thursday. Post opening the session at $173.3, the shares hit an intraday low of $172.04 and an intraday high of $173.67 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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