Laffer Investments Stake in Amgen INC (AMGN) Has Boosted by $270.41 Million

April 22, 2018 - By Dolores Ford

Amgen Inc. (NASDAQ:AMGN) LogoInvestors sentiment increased to 1.22 in 2017 Q4. Its up 0.23, from 0.99 in 2017Q3. It increased, as 73 investors sold AMGN shares while 458 reduced holdings. 122 funds opened positions while 527 raised stakes. 551.71 million shares or 0.60% less from 555.05 million shares in 2017Q3 were reported. Agf Invs accumulated 281,843 shares. Colonial Trust Advsrs reported 2,114 shares. Tudor Investment Et Al reported 0.04% stake. Finemark Bancorp & owns 32,411 shares. Palisade Asset Limited Liability accumulated 84,454 shares or 2.32% of the stock. Brinker Capital accumulated 12,442 shares. Janney Montgomery Scott Ltd Limited Liability Company holds 0.38% of its portfolio in Amgen Inc. (NASDAQ:AMGN) for 212,261 shares. First Western Cap owns 3,704 shares. Perigon Wealth Mgmt Limited Liability Corp invested in 0.04% or 597 shares. 29,145 are held by Blue Chip. Modera Wealth Mgmt Ltd Llc has 0.98% invested in Amgen Inc. (NASDAQ:AMGN) for 26,252 shares. Clifford Swan Counsel Llc reported 62,108 shares stake. Capital City Fl has 0.4% invested in Amgen Inc. (NASDAQ:AMGN). Rowland & Company Invest Counsel Adv has invested 1.33% of its portfolio in Amgen Inc. (NASDAQ:AMGN). Pr Herzig & Inc reported 3.56% of its portfolio in Amgen Inc. (NASDAQ:AMGN).

Since December 12, 2017, it had 0 buys, and 5 sales for $1.37 million activity.

Laffer Investments increased its stake in Amgen Inc (AMGN) by 60.06% based on its latest 2017Q4 regulatory filing with the SEC. Laffer Investments bought 1,555 shares as the company’s stock declined 2.99% with the market. The institutional investor held 4,144 shares of the biological products (no diagnostic substances) company at the end of 2017Q4, valued at $720.64 million, up from 2,589 at the end of the previous reported quarter. Laffer Investments who had been investing in Amgen Inc for a number of months, seems to be bullish on the $114.65B market cap company. The stock decreased 0.79% or $1.37 during the last trading session, reaching $171.56. About 2.28 million shares traded. Amgen Inc. (NASDAQ:AMGN) has risen 3.78% since April 22, 2017 and is uptrending. It has underperformed by 7.77% the S&P500.

Laffer Investments, which manages about $614.32M and $399.05 billion US Long portfolio, decreased its stake in Ishares Intermediate Credit (CIU) by 379 shares to 4,776 shares, valued at $521.59M in 2017Q4, according to the filing. It also reduced its holding in J P Morgan Chase & Co (NYSE:JPM) by 2,109 shares in the quarter, leaving it with 73,752 shares, and cut its stake in Finisar Corp.

Amgen Inc. (NASDAQ:AMGN) Ratings Coverage

Among 14 analysts covering Amgen (NASDAQ:AMGN), 7 have Buy rating, 0 Sell and 7 Hold. Therefore 50% are positive. Amgen had 21 analyst reports since October 26, 2017 according to SRatingsIntel. The firm has “Overweight” rating given on Friday, February 2 by Morgan Stanley. The stock has “Buy” rating by Argus Research on Tuesday, January 23. Argus Research downgraded Amgen Inc. (NASDAQ:AMGN) on Wednesday, November 1 to “Hold” rating. The rating was maintained by Barclays Capital on Thursday, April 5 with “Equal-Weight”. The stock of Amgen Inc. (NASDAQ:AMGN) earned “Market Perform” rating by BMO Capital Markets on Friday, February 2. PiperJaffray maintained Amgen Inc. (NASDAQ:AMGN) on Friday, February 2 with “Overweight” rating. The rating was maintained by RBC Capital Markets on Thursday, October 26 with “Hold”. The stock of Amgen Inc. (NASDAQ:AMGN) has “Hold” rating given on Monday, January 22 by RBC Capital Markets. As per Thursday, February 1, the company rating was maintained by Cowen & Co. The rating was maintained by BMO Capital Markets on Thursday, October 26 with “Market Perform”.

Amgen Inc. (NASDAQ:AMGN) Institutional Positions Chart

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