Amgen, Inc. (NASDAQ:AMGN) was in 28 hedge funds’ portfolio at the end of the fourth quarter of 2012. AMGN investors should pay attention to a decrease in support from the world’s most elite money managers recently. There were 30 hedge funds in our database with AMGN positions at the end of the previous quarter.
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Keeping this in mind, let’s take a look at the key action encompassing Amgen, Inc. (NASDAQ:AMGN).
What does the smart money think about Amgen, Inc. (NASDAQ:AMGN)?
Heading into 2013, a total of 28 of the hedge funds we track were long in this stock, a change of -7% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes considerably.
According to our comprehensive database, AQR Capital Management, managed by Cliff Asness, holds the most valuable position in Amgen, Inc. (NASDAQ:AMGN). AQR Capital Management has a $148 million position in the stock, comprising 0.7% of its 13F portfolio. On AQR Capital Management’s heels is David Cohen and Harold Levy of Iridian Asset Management, with a $129 million position; 1.5% of its 13F portfolio is allocated to the stock. Some other peers with similar optimism include D. E. Shaw’s D E Shaw, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Samuel Isaly’s OrbiMed Advisors.
Judging by the fact that Amgen, Inc. (NASDAQ:AMGN) has faced bearish sentiment from hedge fund managers, we can see that there exists a select few fund managers who sold off their positions entirely heading into 2013. Interestingly, Ric Dillon’s Diamond Hill Capital cut the biggest position of all the hedgies we monitor, totaling an estimated $104 million in stock., and JΘr⌠me Pfund and Michael Sj÷str÷m of Sectoral Asset Management was right behind this move, as the fund dumped about $56 million worth. These transactions are interesting, as aggregate hedge fund interest was cut by 2 funds heading into 2013.
How are insiders trading Amgen, Inc. (NASDAQ:AMGN)?
Insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has experienced transactions within the past 180 days. Over the latest 180-day time period, Amgen, Inc. (NASDAQ:AMGN) has seen zero unique insiders buying, and 6 insider sales (see the details of insider trades here).
With the returns demonstrated by the aforementioned time-tested strategies, retail investors must always keep an eye on hedge fund and insider trading activity, and Amgen, Inc. (NASDAQ:AMGN) is no exception.
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