Amgen Shareholders See Shifts in Institutional Ownership

Great Lakes Advisors LLC has reduced its position in Amgen Inc., trimming shares by 15.6% in the second quarter, according to a recent filing with the Securities and Exchange Commission.

The institutional investor owned 107,992 shares of the medical research company's stock after selling 19,901 shares during the quarter, valuing its holdings at $39,107,000.

This move comes amidst other changes in the company's ownership structure. Vanguard Group Inc., for instance, grew its position by 1.8% in the fourth quarter and now owns a significant stake of 54,838,826 shares valued at $17,949,296,000.

The price target for Amgen has been revised upward by various analysts, including Guggenheim and Goldman Sachs Group, who see potential for growth due to the company's existing portfolio and operating execution.