Exec Insiders and Funds Cashing in Amgen Shares in Third Quarter

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Amgen Inc. (NASDAQ:AMGN).

SEC data indicate these insiders have sold Amgen Inc.’s stock since 06/30/2011:

  • Sharer Kevin W: act as Chairman of the Board and CEO(Click HERE for the list of stocks that their CEOs have bought). On 11/08/2011, sold 52,500 shares, worth $3,056,600.
  • Richo Anna: act as SVP & CCO. On 08/01/2011, sold 24,950 shares, worth $1,372,500.
  • Scott David J: act as SVP, Gen. Counsel & Secy.. On 08/31/2011, sold 20,000 shares, worth $1,108,800.
  • Beier David W: act as SVP Global Govt & Corp Affairs. On 08/15/2011, sold 15,000 shares, worth $773,400.
  • Bonanni Fabrizio: act as EVP, Operations. On 11/08/2011, sold 10,000 shares, worth $581,200.

SEC data indicate that these institutions significantly reduced their stock shares of Amgen Inc. in Q3 2011:

  • CAMBER CAPITAL MANAGEMENT LLC: On 06/30/2011, held 800,000 shares, worth $46,680,000. On 09/30/2011, held 0 shares.
  • ARROWSTREET CAPITAL LIMITED PARTNERSHIP: On 06/30/2011, held 697,506 shares, worth $40,699,475. On 09/30/2011, held 0 shares.
  • EMPLOYEES RETIREMENT SYSTEM OF TEXAS: On 06/30/2011, held 486,300 shares, worth $28,375,605. On 09/30/2011, held 0 shares.
  • ELM RIDGE MANAGEMENT, LLC: On 06/30/2011, held 449,400 shares, worth $26,222,490. On 09/30/2011, held 0 shares.
  • FIRST PACIFIC ADVISORS, LLC: On 06/30/2011, held 330,400 shares, worth $19,278,840. On 09/30/2011, held 0 shares.

About the company: Amgen Inc. discovers, develops, manufactures, and markets human therapeutics based on cellular and molecular biology. The Company focuses its research on secreted protein and small molecule therapeutics, with particular emphasis on neuroscience and cancer. Amgen concentrates on the areas of hematology, cancer, infectious disease, endocrinology, neurobiology, and inflammation.

Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Biogen Idec Inc. (NASDAQ:BIIB), GlaxoSmithKline plc (NYSE:GSK), Affymax, Inc. (NASDAQ:AFFY), Genzyme Corporation (NASDAQ:GENZ), Novartis AG (NYSE:NVS), 3SBio Inc. (NASDAQ:SSRX), and NPS Pharmaceuticals, Inc. (NASDAQ:NPSP).

(Note: Data regarding Amgen Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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