Amgen (AMGN) Stock Value Declined While Brandes Investment Partners LP Has Lowered by $4.79 Million Its Stake; Bank Amer (BAC) Shareholder Corvex Management LP Has Lifted Stake

January 14, 2018 - By Darrin Black

Keith Meister increased its stake in Bank Amer Corp (BAC) by 16.95% based on its latest 2017Q3 regulatory filing with the SEC. Corvex Management Lp bought 1.02M shares as the company’s stock declined 6.00% while stock markets rallied. The hedge fund run by Keith Meister held 7.02 million shares of the major banks company at the end of 2017Q3, valued at $177.81 million, up from 6.00 million at the end of the previous reported quarter. Corvex Management Lp who had been investing in Bank Amer Corp for a number of months, seems to be bullish on the $325.33 billion market cap company. The stock increased 1.73% or $0.53 during the last trading session, reaching $31.19. About 66.37 million shares traded. Bank of America Corporation (NYSE:BAC) has risen 58.64% since January 14, 2017 and is uptrending. It has outperformed by 41.94% the S&P500.

Brandes Investment Partners Lp decreased its stake in Amgen Inc (AMGN) by 36.1% based on its latest 2017Q3 regulatory filing with the SEC. Brandes Investment Partners Lp sold 16,512 shares as the company’s stock declined 9.68% while stock markets rallied. The institutional investor held 29,224 shares of the biological products (no diagnostic substances) company at the end of 2017Q3, valued at $8.48 million, down from 45,736 at the end of the previous reported quarter. Brandes Investment Partners Lp who had been investing in Amgen Inc for a number of months, seems to be less bullish one the $134.32B market cap company. The stock increased 1.69% or $3.08 during the last trading session, reaching $185.04. About 3.11M shares traded or 13.60% up from the average. Amgen Inc. (NASDAQ:AMGN) has risen 5.27% since January 14, 2017 and is uptrending. It has underperformed by 11.43% the S&P500.

Since October 9, 2017, it had 0 insider buys, and 2 selling transactions for $553,240 activity.

Among 24 analysts covering Amgen Inc. (NASDAQ:AMGN), 11 have Buy rating, 0 Sell and 13 Hold. Therefore 46% are positive. Amgen Inc. had 74 analyst reports since August 3, 2015 according to SRatingsIntel. The firm earned “Neutral” rating on Wednesday, September 28 by Citigroup. Leerink Swann initiated the shares of AMGN in report on Friday, February 5 with “Market Perform” rating. The company was upgraded on Thursday, November 5 by Piper Jaffray. Barclays Capital maintained the shares of AMGN in report on Friday, October 13 with “Equal-Weight” rating. The company was downgraded on Wednesday, April 5 by Jefferies. The company was maintained on Friday, October 20 by BMO Capital Markets. The stock of Amgen Inc. (NASDAQ:AMGN) has “Neutral” rating given on Friday, July 29 by Citigroup. On Monday, June 12 the stock rating was maintained by Jefferies with “Hold”. Oppenheimer maintained Amgen Inc. (NASDAQ:AMGN) rating on Monday, June 19. Oppenheimer has “Buy” rating and $18900 target. Citigroup initiated Amgen Inc. (NASDAQ:AMGN) on Thursday, February 25 with “Neutral” rating.

Investors sentiment decreased to 0.99 in 2017 Q3. Its down 0.16, from 1.15 in 2017Q2. It dropped, as 58 investors sold AMGN shares while 511 reduced holdings. 108 funds opened positions while 453 raised stakes. 555.05 million shares or 0.41% less from 557.32 million shares in 2017Q2 were reported. 12,257 were reported by Martin Co Tn. Groesbeck Invest Mngmt Corporation Nj holds 25,567 shares or 3.43% of its portfolio. Michigan-based Jlb & Associates has invested 2.68% in Amgen Inc. (NASDAQ:AMGN). Perritt Capital Management Inc invested in 3,054 shares or 0.15% of the stock. Aristotle Mngmt Ltd Liability Com invested 2.19% of its portfolio in Amgen Inc. (NASDAQ:AMGN). Ipswich Inv Mgmt accumulated 25,045 shares or 2.1% of the stock. 7,894 were accumulated by Aldebaran Financial Incorporated. Moreover, Advisor Prtn Limited Liability Company has 0.49% invested in Amgen Inc. (NASDAQ:AMGN). Adell Harriman & Carpenter has invested 1.15% in Amgen Inc. (NASDAQ:AMGN). Northstar Investment Advsrs Lc invested in 1,255 shares. The Alabama-based Aull Monroe Inv Management has invested 1.31% in Amgen Inc. (NASDAQ:AMGN). Boston Partners accumulated 0% or 9,897 shares. Sigma Planning Corporation owns 14,822 shares. Grantham Mayo Van Otterloo And Limited Liability Corporation invested in 0% or 2,200 shares. Cypress Cap Grp Incorporated, Florida-based fund reported 14,593 shares.

Analysts await Amgen Inc. (NASDAQ:AMGN) to report earnings on February, 1. They expect $3.02 earnings per share, up 4.50% or $0.13 from last year’s $2.89 per share. AMGN’s profit will be $2.19B for 15.32 P/E if the $3.02 EPS becomes a reality. After $3.27 actual earnings per share reported by Amgen Inc. for the previous quarter, Wall Street now forecasts -7.65% negative EPS growth.

Brandes Investment Partners Lp, which manages about $26.91B and $6.23 billion US Long portfolio, upped its stake in Alexander & Baldwin Inc New (NYSE:ALEX) by 13,034 shares to 53,018 shares, valued at $2.46 million in 2017Q3, according to the filing. It also increased its holding in Companhia Paranaense Energ C (NYSE:ELP) by 211,840 shares in the quarter, for a total of 1.65M shares, and has risen its stake in Apache Corp (NYSE:APA).

Among 32 analysts covering Bank of America (NYSE:BAC), 21 have Buy rating, 0 Sell and 11 Hold. Therefore 66% are positive. Bank of America had 103 analyst reports since July 21, 2015 according to SRatingsIntel. Robert W. Baird upgraded the stock to “Buy” rating in Tuesday, September 1 report. The company was upgraded on Tuesday, September 1 by KBW. The stock of Bank of America Corporation (NYSE:BAC) has “Hold” rating given on Friday, August 25 by Robert W. Baird. Atlantic Securities upgraded Bank of America Corporation (NYSE:BAC) on Wednesday, December 21 to “Overweight” rating. On Friday, September 29 the stock rating was maintained by Robert W. Baird with “Hold”. The stock of Bank of America Corporation (NYSE:BAC) has “Market Perform” rating given on Monday, October 16 by BMO Capital Markets. The stock of Bank of America Corporation (NYSE:BAC) earned “Buy” rating by Nomura on Tuesday, September 8. The firm has “Buy” rating given on Thursday, September 14 by Jefferies. On Monday, April 24 the stock rating was downgraded by Berenberg to “Hold”. BMO Capital Markets maintained Bank of America Corporation (NYSE:BAC) on Wednesday, August 23 with “Hold” rating.

Investors sentiment decreased to 1.04 in 2017 Q3. Its down 0.08, from 1.12 in 2017Q2. It turned negative, as 68 investors sold BAC shares while 569 reduced holdings. 117 funds opened positions while 547 raised stakes. 6.91 billion shares or 9.01% more from 6.34 billion shares in 2017Q2 were reported. Estabrook Mngmt invested 1.79% of its portfolio in Bank of America Corporation (NYSE:BAC). Hyman Charles D holds 63,254 shares or 0.2% of its portfolio. At State Bank owns 0.15% invested in Bank of America Corporation (NYSE:BAC) for 51,284 shares. Gm Advisory holds 29,364 shares or 0.23% of its portfolio. Quantbot Tech Limited Partnership has invested 1.41% in Bank of America Corporation (NYSE:BAC). Aimz Invest Advsrs Ltd Liability Co owns 23,608 shares for 0.48% of their portfolio. Mckinley Capital Management Limited Liability Company Delaware holds 1.83% of its portfolio in Bank of America Corporation (NYSE:BAC) for 1.76M shares. Sterling Investment Mgmt has 116,671 shares for 4.01% of their portfolio. Savant Capital Lc reported 0.28% of its portfolio in Bank of America Corporation (NYSE:BAC). Primecap Ca holds 8.77 million shares or 0.18% of its portfolio. Kepos Capital Lp holds 129,691 shares or 0.55% of its portfolio. Avenir Corporation holds 3.2% or 1.47M shares. Pillar Pacific Cap Mngmt Ltd Llc owns 373,260 shares. Intrust Bankshares Na reported 113,928 shares. Oakworth Cap has invested 1.29% in Bank of America Corporation (NYSE:BAC).

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